Hyderabad: Medha Servo Drives which is the largest Propulsion equipment supplier to Indian Railways will be setting up Rail/Metro Coach Factory with an estimated investment of Rs. 800 Crores. The factory will create more than 2000 direct and indirect employment opportunities in the state.
Talking at the event, IT Minister K. Tarakarama Rao said, “Though Telangana was promised a Rail Coach Factory within six months of its formation, in the AP State Reorganization Act 2014, it has never become a reality in spite of frequent appeals to the Central Government.
Today, we are happy to have found a partner who is ready to set up a Rail/Metro Coach Factory in Telangana. Our state is fast emerging as a manufacturing hub,” he said.
About 100 acres of land has been allocated through TSIIC at Kondakal to Medha Servo Drives Rail/Metro Coach Factory. Medha will work with Telangana Academy for Skill and Knowledge to train the required manpower for the upcoming factory.
Industries Secretary Jayesh Ranjan, TSIIC MD Venkat Narsimha Reddy, Y Yugandhar Reddy, Chairman, Medha Servo Drives, Y Kashyap Reddy, MD, Medha Servo Drives and N Srinivas Reddy, Executive Director, Medha Servo Drives were among those present at the occasion. (INN)