Even during COVID times, Telangana reaps good harvest of investments

Hyderabad: Even as the Telangana government is occupied with tackling the growing intensity of the COVID-19 crisis, a slew of investments continue to pour in various sectors including industry, infrastructure and information technology. Deals of worth over Rs. 4,700 crore were finalized until last week.

On August 11, Medtronic, an Ireland-based medical equipment giant, announced its plan of expanding its Medtronic Engineering & Innovation Centre (MEIC) in Hyderabad at a cost of Rs 1200 crore.

“It is going to be the largest global R&D centre outside of the United States for Medtronic generating over 1000 jobs,” state industries Minister K T Rama Rao said, “It will be a big boost to Telangana and it will cement Hyderabad’s position as the hub of the medical device in India,” he said.

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On August 13, Telangana received yet another major investment proposal from Medha Servo Drives Pvt. Ltd to set up Medha Rail Coach Factory, India’s largest private-sector rail coach factory, at an investment of Rs 1000 crore with an employment potential of 2,200 persons (1000 direct and 1200 indirect) in the state.

KTR took part in the event of Medha Rail Coach Factory in Kondakal village of Shankarpally, Ranga Reddy district along with ministers T Harish Rao and P Sabitha Indra Reddy.

“The facility will have a capacity of manufacturing coaches, locomotives, intercity train sets, metro trains, monorail, etc. Production capacity is planned for 500 coaches (of various types) and 50 locomotives per year,” the industries minister said in the event.

Similarly, on August 17, KTR laid the foundation stone for an advanced polyester film manufacturing facility at Shahabad in Ranga Reddy district, to be set up by Ester Industries Ltd, a leading manufacturer of Polyester Films at an investment of Rs 1,350 crore. It will provide jobs to about 800 persons.

The foundation for Rs 500 crore smart data centre of the National Payments Corporation of India (NPCI) was laid by the minister at Nanakramguda. KTR also formally began the construction of new Research and Technology Centre of Sai Life Sciences Limited at an investment of Rs 400 crore at Genome Valley.

Meanwhile, the Telangana government is holding a two-day virtual conference on “Make in Telangana” on August 27 and 28 with the theme “Invest in Telangana: Opportunities in Post Covid-19,” with an objective to explore investment opportunities and new partnerships.

The conference will be addressed by CEOs of leading Indian and global companies including IT, pharmaceuticals, textiles, electric vehicles, food processing, aerospace and defence, retail and infrastructure.

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