Hyderabad: Country's leading commercial vehicle manufacturer Ashok Leyland is in the process of setting up a manufacturing unit in Telangana. Ashok Leyland has entered into an MoU with Telangana government for the proposed plant to be set up at an investment of Rs 500 crore. Telangana Industries Minister KT Rama Rao said: "Ashok Leyland will invest Rs 500 crore in a phased manner and the plant is expected to generate direct employment to over 1,000 people."
Ashok Leyland's senior official said that the company has major expansion plan for Telangana as it considers the State as a strategic market. Ashok Leyland is setting up an assembly plant for assembling buses and trucks.
Ashok Leyland will commence construction works as soon as the land is alloted by the government. The company hopes to start construction of the assembly plant by the end of this fiscal. The investment will be in phases as the project progresses.
KTR said Ashok Leyland's plant in Telangana will further strengthen the automobile industry in the state. He said the industries department would continue its efforts to build the supplier ecosystem.
Interestingly, a proposal put forward by KTR to company's Managing Director Vinod Dasari has materialized in just three days only. KTR met Vinod Dasari in Delhi few days ago and requested him to invest in the state. Subsequently, AshokLeyland has taken decision to set up an assembly unit in Telangana.