NOB-Telangana news: Industrial conglomerate Rashmi Group has signed a MoU with the Telangana Government to set up a steel production unit in the State with an investment of Rs.12,500 crore, with the potential to generate 12,000 direct and indirect jobs. The agreement was finalised during interactions between Rashmi Group Promoter Sajjan Kumar Patwari and Director Sanjib Kumar Patwari and the Chief Minister Anumula Revanth Reddy, led Telangana Rising delegation at WEF2026 Davos. The company, a global leader in ductile iron pipes, exports to 40+ countries and expressed readiness to establish the plant in Telangana. IT & Industries Minister Duddilla Sridhar Babu assured all necessary support for the project, including facilitation for industrial inputs. Discussions also explored collaboration in green manufacturing, circular economy, energy-efficient steelmaking, waste heat recovery and slag utilisation, in line with Telangana’s sustainability goals.