ALSO READTelangana govt to approach courts if GST on public projects not removed Telangana engages PwC to retain top slot in ease of doing business rankings Telangana DOST (2017) 2nd Seat Allotment today. Check it here Official: Telangana DOST 1st seat allotment 2017 results declared Telangana DOST (2017) 2nd Seat Allotment declared
Telangana government has allotted 100-acre land for an upcoming rail and metro coach factory proposed to be set up by Hyderabad-based Medha Servo Drives Private Limited. The company proposes to invest Rs 800 crore in the factory, which is expected to create 2,000 direct and indirect employment. A group of five subsidiaries with an annual turnover of Rs 1,000 crore, this home-grown company is the largest propulsion equipment supplier to Indian Railways for use in a variety of locomotive units.
Medha has involved in the Kolkata Metrorail project for new design of train and car body manufacturing. It is currently working with Chennai Integral Coach Factory to deliver a 160 kmph train design which will be the first train set capable of running at 160 kmph speed, according to the company management.The company and the Telangana State Industrial Infrastructure Corporation(TSIIC) on Friday signed a memorandum of understanding for the proposed project. Speaking on the occasion, state industries and IT minister K T Ramarao said the government's desire to have a local rail coach factory in the state was getting fulfilled by a private entrepreneur even though the promise of rail coach factory made by the Centre at the time of state bifurcation was yet to be implemented.