German Company To Set Up Rs 1,500 Crore Manufacturing Facility In Telangana

7 Dec, 2021 10:54 IST|Sakshi Post

HYDERABAD: Germany-based company Liteauto GmbH  will invest Rs 1,500 crore in Telangana State to establish an advanced design and manufacturing facility here.

They signed an MoU (memorandum of understanding) with the Telangana government to this effect on Monday, in the presence of Telangana IT and Industries Minister K T Rama Rao (KTR)  and German Ambassador to India Walter J Lindner.

As per KTR's Twitter post, the facility would provide direct employment to more than 9,000 people and potentially create about 18,000 indirect employment opportunities in the State.

The facility would manufacture magnesium products for cars, commercial vehicles, two-wheelers in both ICE (internal combustion engine)  and EV (electric vehicle) segments.

Earlier the Minister addressed the industry leaders at the German Investors’ Summit in Hyderabad. It was attended by  Walter J. Lindner, German Consul General Karin Stoll, IGCC Director-General Mr. Stefan Halusa, Cyient Founder & Executive Chairman BVR Mohan Reddy and Telangana It Principal Secretary Jayesh Ranjan who also participated in the Summit.

Also Read: TSIC's Assistive Technology Summit Sees Student Teams From Telangana Pitch Ideas On Pwds

Read More:
More News
Entertainment