Samsung likely to set up $100 mn facility in Hyderabad

Global electronics major Samsung is expected to set up a manufacturing unit in Hyderabad with an investment of $100 million, Telangana Chief Minister K. Chandrasekhar Rao said on Wednesday.

He said the ministers for industry and information technology would meet a delegation from Samsung in this regard on Thursday.

Speaking at the inauguration of an extended facility at Mahindra & Mahindra's automotive plant here, the chief minister said Samsung was one of the many major industries showing interest in investing in the state.

"Hyderabad has a very large scope for electronic hardware industry," he said.

Claiming that the newly formed state has overcome its electricity shortage, he assured the industry that his government will shortly ensure round the clock quality power supply.

"Expand your industries. There are not going to be power cuts in Telangana," he told industrialists.

The chief minister said many companies were coming forward to invest in Telangana, including a Rs.980-crore expansion by tyre major MRF.

He said the government would shortly launch a programme under which investors will get all approvals and clearances within two weeks of making an application to set up an industry. The state has already enacted a law, providing this right to the investors.

"It will be a real single window with a chasing cell in my office. The hassle-free and corruption- free environment will boost industrialisation and attract investment," he said.