Mr. K.T. Rama Rao, the Information Technology and Urban Development Minister of Telangana welcomed DAIFUKU, which announced an investment in the Telugu State.
On the 13th of December, the Bharat Rashtra Samithi (BRS) signed a memorandum of understanding (MoU) with Daifuku Company Limited. The company announced investing Rs. 450 crores in Telangana.
The Daifuku Company, which offers automated material handling technology and solutions, signed an agreement to establish a manufacturing unit in the State.
Its current facility is at Pashamylaram, which is 60,000 square feet, which would be supplemented by the new factory, which has a size of more than 200,000 square feet.
With this new investment, the facility of manufacturing unit is expected to establish near Chandanvelly, is expected to cost Rs. 200 crores in its initial phase.
The new establishment is likely to be ready by 2024, 18 months from now, confirmed sources.
Welcoming the new company, Mr. K.T. Rama Rao (KTR) said, “Capital access was a big challenge in the past. It is no more a challenge now with the government extending all support. Indian entrepreneurs need to be bolder and more aggressive.” He further added, “We need to pole vault and outpace others. Apart from Hitec and smart manufacturing, there should be an emphasis on basic manufacturing.”
With this investment, the Information Technology Minister of Telangana KTR emphasized and encouraged other companies to invest in Telangana and develop manufacturing units.
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