Medha invests Rs 1,000 crore, sets up rail coach factory in Telangana
A Hyderabad-based diversified firm, Medha Servo Drives laid the foundation for setting up a rail coach factory in Telangana at an investment of Rs 1,000 crore (US$ 141.86 million).
The ground-breaking ceremony of the Medha Rail Coach Factory in Kondakal village in neighbouring Rangareddy district was attended by State Minister for IT and Industries Mr KT Rama Rao.
It is expected that the factory will generate 1,000 direct and 1,200 indirect jobs in the region.
"The facility will have a capacity of manufacturing coaches, locomotives, inter-city train sets, metro trains and monorail, among others. Production capacity is planned for 500 coaches of various types and 50 locomotives per year," Medha Servo said.
Medha Servo Drives Pvt. Ltd designs and manufactures various world-class high-tech electronics products for application on locomotives, train sets, coaches, railway stations and yards, making it the largest propulsion equipment supplier to the Indian Railways.
Mr Rama Rao said, “Chief Minister K Chandrashekhar Rao-led governments pro-active approach and conducive policies have encouraged Medha Group to establish its world-class rail coach factory”.
The facility is expected to create an eco-system for rail coach manufacturing in the state.
This will be the largest private sector rail coach manufacturing unit in the country.
Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.