In a major announcement, two Japanese companies have come forward to invest in Telangana. Japanese major Daifuku has signed an MoU with the Telangana government to invest Rs. 450 cr in Telangana and Nicomac Taikisha Cleanrooms Private Ltd has announced to establish its third manufacturing facility in Hyderabad.
Daifuku, the world’s leading provider of automated material handling technology, will set up a new manufacturing facility in the State. The investment will provide employment to over 800 people. While Nicomac Taikisha will be investing Rs. 126 cr to expand its cleanrooms production and start producing HVAC systems in the state.
The announcements were made in the presence of Minister KT Rama Rao. Speaking on the occasion, KTR said, “India has to pick the best elements from different parts of the world and pole-vault to achieve economic growth. There is a need to introduce basic design thinking at the school level and apprenticeship model in higher education, and compete on scale.”
The minister added, “Despite relatively small population size, frequent earthquakes and other natural disasters, history of atomic explosions over Hiroshima and Nagasaki, Japan continues to be a dominant economic force.”