It was a rich haul for Telangana at the World Economic Forum in Davos, as a clutch of global firms announced multi-million investments plans, including drug-maker Ferring Pharma’s euro 60 million for a second manufacturing facility in Hyderabad and Swiss firm Stadler Rail ₹1,0000-crore rail coach factory in partnership with home-grown Medha Servo Drives.
Besides the investment commitments that were made following meetings of the senior leadership with Industries and IT Minister K. T. Rama Rao, who is in Davos leading an official delegation, a number of companies evinced interest in exploring growth opportunities in the State.
In a release, the Minister’s office said a joint venture of Stadler Rail and Medha Servo Drives, with the former as a majority stakeholder, would invest over ₹1,000 crore over two years to set a rail coach manufacturing unit in Telangana. The unit would be the primary site of manufacturing for the JV partners to cater to India as well as customers across the APAC region. The facility was expected to create employment for over 2,500 people.
