Davos: The Telangana government and Stadler Rail, a Swiss manufacturer of railway rolling stock, announced on Tuesday an upcoming rail coach manufacturing unit to be set up in the state.
This investment will be a joint venture between the home-grown Medha Servo Drives Private Limited, a company that focuses on rail construction, and Stadler Rail with the latter being a majority stakeholder in the same.
The joint venture will invest over ₹1,000 crores over a period of 2 years and is expected to create 2,500 job opportunities.
This center is set to be of extremely high importance to Stadler and Medha Servo as this will be the primary site of manufacturing for their tenders not only from India but also for their customers across the Asia-Pacific region.
Speaking on the occasion, Telangana IT minister KT Rama Rao expressed his happiness over the venture.
“I am extremely delighted that Stadler chose Hyderabad as their primary location for rail coach manufacturing for the complete Asia-Pacific region in partnership with Medha Servo. This will show the world the potential that Hyderabad has, to match global investment destinations in terms of quality of talent and output,” he said.
Ansgar Brockmeyer, Executive Vice President – Sales and Marketing, Stadler Rail, said, “This unit will be one of the most important centres for us as we plan on scaling up activities in India and in the APAC region. We are very happy with the support provided by the Government and look forward to more business out of the region.”