Hyderabad: Addressing the media, IT Minister D Sridhar Babu offered clarification on the departure of companies from Telangana since the Congress government assumed office.
During his statement on Sunday, Sridhar outlined that projects worth Rs 9,000 crore would be formalized through memoranda of understanding (MoUs) within three months. Moreover, the government secured investments totaling Rs 40,000 crore during the Davos economic summit.
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“We are not inactive; if companies leave, many others will come to Telangana,”
Sridhar emphasized.
Sridhar noted that Keynes Technology, which had announced plans to establish its Assembly and Testing (OSAT) and compound semiconductor manufacturing facility in Telangana with an investment of Rs 2800 crore during the BRS administration, is still awaiting incentives from the Union government. The proposed facility is anticipated to generate employment for 2000 individuals.
Highlighting a previous announcement by former IT Minister K T Rama Rao, Sridhar mentioned that although it was declared that the US-based speciality glass, ceramics, and related materials and technologies provider Corning Inc. would establish a gorilla glass manufacturing unit, neither a MoU nor a binding agreement was signed.
