Uber signs MoU with Telangana govt

International transportation network company Uber on Monday announced that it would invest $50 million in Hyderabad to set up its facility, which will be the biggest outside its headquarters in the US.

The company has signed a Memorandum of Understanding (MoU) with the Telangana government aimed at creating thousands of jobs and entrepreneurship opportunities, fostering technical innovation and research into smart city initiatives.

"The investment will be into Uber's core business - a new greenfield project which we are going to set up here. It will make Hyderabad the largest Uber office in the world outside the US," Sidharth Shanker, general manager Hyderabad, Uber told reporters after signing the MoU. The facility will support Uber's operations across India.