Vingroup signs MoU with the State of Telangana
Vingroup announced the signing of a Memorandum of Understanding (MoU) with the Government of Telangana at the Telangana Rising Global Summit for a proposed investment of USD 3 billion, to be implemented in a phased manner for developing a multi-sector ecosystem in the state. Under the MoU, both parties will collaborate to explore strategic opportunities across key sectors such as smart urban development, electric mobility solutions, healthcare, education, tourism, renewable energy, and charging infrastructure across approximately 2,500 hectares in Telangana, as well as electric taxi services, with the overall objective of advancing the state’s socio-economic development and long-term growth vision. This MoU marks a significant milestone in Vingroup’s global expansion and reinforces the stature and capability of one of Vietnam’s leading multi-sector corporations on the international economic stage.
In electric mobility, Vingroup proposes to introduce India’s first large-scale electric taxi fleet and mobility-as-a-service platform using VinFast vehicles through GSM in the State of Telangana, and may explore potential opportunities associated with EV manufacturing initiatives in the future.
In urban development, Vingroup plans to develop the Vinhomes Smart City mega urban area designed for approximately 200,000 residents on a 1,080-hectare site. The project is expected to generate around 10,000 jobs and will feature a balanced mix of low-rise and high-rise developments, international-standard amenities, a limited built-up footprint, and sustainable urban planning principles.
In social infrastructure, the Group proposes to develop essential facilities on a planned land area of approximately 70 hectares, including Vinschool’s integrated K-12 education system, Vinmec international-standard multi-speciality hospitals and the V-Green electric vehicle charging network.
In tourism and entertainment, Vingroup, through VinWonders, aims to develop an integrated complex that includes a theme park, zoo, and safari across approximately 350 hectares, enhancing Telangana’s tourism infrastructure and creating large-scale employment.
In renewable energy, Vingroup, through VinEnergo, proposes to invest in a 500 MW solar farm over an area of approximately 500 hectares to provide a stable source of green electricity for urban areas, industrial zones and the entire electrified mobility ecosystem.
In addition to these initiatives, Vingroup also proposes to participate in the development of strategic connectivity infrastructure to strengthen regional linkages and enhance the capacity for urban spatial development.
On the government side, Telangana commits to supporting the identification and facilitation of land allocation for each project, coordinating in master planning and project structuring, assisting with administrative procedures and mobilising relevant agencies to prepare the necessary connecting infrastructure. The state government will also consider the application of incentives in line with existing policies and will work closely with Vingroup throughout the research and implementation stages to ensure project progress and effectiveness.
