Telangana bags fresh manufacturing investments worth Rs 7600 crore | India News – Times of India

Telangana bags fresh manufacturing investments worth Rs 7600 crore

HYDERABAD: Telangana has clinched fresh manufacturing investments worth nearly Rs 7600 crore with the potential to create around 5200 jobs in sectors such as aerospace & defence, electronics and energy storage, as well as eyewear manufacturing.
Four MoUs were inked with eyewear player Lenskart, renewable energy and energy storage solutions provider Premier Energies and aerospace and defence player Azad Engineering in the presence of IT & industries minister Duddilla Sridhar Babu on Sunday at an event to mark the completion of one year of the Revanth Reddy-led Congress govt.
The largest of these is a Rs 3342 crore investment by Premier Energies Global Environment Pvt Ltd in setting up a 4 GW solar PV TOPCon cell and 4GW solar PV TOPCon module manufacturing facility at Sitarampur that will generate around 1000 jobs. The company has already been allotted 75 acres at Sitarampur by Telangana State Industrial Infrastructure Corporation (TGIIC).
Another Rs 1950 crore investment is being made by Premier Energies in setting up plants to make ingots and silicon wafers (Rs 1700 crore) and aluminium extrusions (Rs 250 crore) at Sitarampur where the company is being allotted 125 acres of land. The facility will create around 1500 new jobs.
Eyewear player Lenskart too will be investing Rs 1500 crore in manufacturing eyewear products in Telangana for which the govt has identified land in Fab City that will be allocated this week. This facility will create around 2100 jobs.
Apart from these, Azad Engineering will be investing Rs 800 crore in setting up a superalloy manufacturing plant in two phases for which 25 acres of land have been identified in Ghanpur industrial park. While the company will be investing Rs 300 crore in the first phase, it will be pumping in R 500 crore in the second phase. The company will be creating around 600 jobs with the proposed announcement.