The app-based taxi-hailing company Uber is set to invest $50 million for the setting up of its international facility in Hyderabad, which will be the biggest outside its headquarters in the United States.
Uber signed an MoU with the Telangana government to develop a facility with as many as 500 employees. This will mark its largest single investment in India since launching operations in 2013. “The investment will be into Uber’s core business — a new greenfield project which we are going to set up here,” Uber GM (Hyderabad) Sidharth Shanker said.
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