India Pvt Ltd will set up its second facility in with an investment of Rs 300 crore, company’s CEO and MD Anil Chaudhary said on Thursday.

The factory will be set up on a 18-acre land at GMR Industrial Park in the state capital of .

He was speaking at the ground-breaking ceremony of the facility where Minister of IT, Municipal Administration and Urban Development KT Rama Rao was the chief guest.

“The new state-of-the-art smart factory is testament to our commitment towards making Hyderabad a leading manufacturing hub in the country. We will be investing over Rs 300 crore in this project, which will in turn create additional 1,000 jobs,” Chaudhary said.

Rao in his address said Telangana is becoming a hub for manufacturers. He said the new unit of will be the company’s largest factory in India.

“The upcoming smart factory will greatly contribute to the state’s economy, which is bolstering its position as a leading investment hotbed.

“With India rising as an economic powerhouse, the opportunities are huge. We believe this facility, apart from catering to the needs of the industry, will also magnify revenue generation opportunities and boost job creation,” Rao said in his address.

Javed Ahmad, Senior Vice President, Global Supply Chain, International Region, said this will be the 31st factory of the company in India.

The project will be completed in two phases, the first phase of 2 lakh square feet facility is expected to be completed by September 2023, he said.

Total 30 units of the company are operating at various locations in the country including one in Gachibowli, Telangana.

The company will produce power products at the upcoming unit and aims to export 75 per cent of the output, Ahmad said.

Schneider Electric India is a subsidiary of French firm Schneider Electric.

Ambassador of France, H.E. Emmanuel Lenain, who was at the event said,”Schneider Electric’s decades-long presence in India is a success story that mirrors the strength of the Indo-French partnership and France’s commitment to helping India meet its sustainable development goals.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

Source link