Hyderabad: The state will soon have a rail/metro coach factory at Kondakal on the borders of Sangareddy and Ranga Reddy districts.
Minister K.T. Rama Rao on Friday attended the MoU signing ceremony with Medha Servo Drives, the largest propulsion equipment supplier to Indian Railways.
The company will set up the factory with an estimated investment of Rs 800 crore and is expected to create 2,000 direct and indirect employment opportunities. The company has been allotted 100 acres of land.
Mr Rama Rao said, “Though the state was promised a rail coach factory within six months of its formation, as per the AP State Reorganization Act 2014, it did not become a reality. The TS government had to negotiate and permitted a private firm to set up the factory near the capital city, he added. The company will work with the Telangana Academy for Skill and Knowledge to train the required manpower for the upcoming factory.
Industries secretary Jayesh Ranjan, TSIIC MD Venkat Narsimha Reddy, Medha Servo Drives chairman Y. Yugandhar Reddy, company MD Y. Kashyap Reddy were among those present.
