Gulf firms to invest Rs 1K-Cr in TS: KTR
HYDERABAD: Telangana attracted investment worth more than Rs1,040 crore across various sectors from UAE-based firms, IT minister K.T. Rama Rao said. He met with several business leaders in the UAE.
Naffco, a Dubai-based leading producer and supplier of fire-safety solutions, has decided to invest Rs700 crore in the city for setting up a manufacturing unit, the minister said after meeting Khalid Al-Khatib, founder and CEO of Naffco, the world’s leading manufacturer of fire protection equipment.
The Hyderabad unit will produce fire trucks and ambulances to meet domestic demand and for export, the minister said in a post on ‘X’ (formerly Twitter).
He said the firm had more than 1,000 products with operations in more than 100 countries. Additionally, Naffco would collaborate with the National Academy of Construction, Hyderabad to establish a fire safety training academy.
The LuLu group has announced its expansion plans in Telangana, he said after meeting a delegation of the group led by its chairman Yusuff Ali in Dubai. Ali explained the group’s operations in shopping malls, food processing, and retail sectors.
The company was eyeing the aqua cluster in the Sircilla district and expressed interest in collecting aqua products worth 1,000 crores annually. It will focus on cold storage and fish processing units and offer 500 jobs.
DP World Group agreed to invest Rs215 crore in Telangana after Rama Rao met its executive vice president Anil Mohta and director of project development Saloosh Shastree. This includes expansion of the Hyderabad inland container depot operations and setting up a 5,000-pallet capacity cold storage in Medchal.
Malabar Group has come forward to invest in a Rs125-crore furniture manufacturing plant. It has a gold refinery operating in the state, Rama Rao said.