Hyderabad: Minister KT Rama Rao of Telangana Municipal Administration and Urban Development (MAUD) laid the foundation stone for Medha Servo Rail Coach Factory in Rangareddy district on Thursday, August 13.
Medha Rail Coach Factory is being established in Shankarpally Mandal village Kondakal in Rangareddy district. It is spread over 100 acres, and is being developed with a Rs 800 crore budget.
The minister, speaking on the occasion, said the Medha Rail Coach factory would become another achievement of Government led by K Chandrashekar Rao.
KTR said, “The district has earned Rs 800 crore investment, and this will generate work opportunities for hundreds of people.”
The minister said the district of Ranga Reddy already receives major investments in the construction and real estate sectors. The district of Ranga Reddy has become a focal point for IT, tech firms, pharmacy, international airport, hardware parks as well as institutions of higher education, universities and tourism, KTR said.
The minister said that with an investment of Rs 800 crore, Medha Servo Drives, a manufacturer of textile industry train coaches and diesel electric locomotives, will install its unit in Kondakal village.
For this, after signing an intellectual agreement with the government, Telangana State Industrial Infrastructure Corporation (TSIIC) undertook the acquisition of 100 acres of land in 2017, said KTR. (INN)