Since the inception of the newly formed Congress government a couple of months back, Telangana has attracted its first notable investment and here is a look into the same.
In the presence of Minister Sri Sridhar Babu, M/s RenewSys India Pvt. Ltd. signed an MoU with the Industries & Commerce Department for setting up of multiple PV Modules and PV Cell manufacturing units in Telangana.
With the signing of the MoU, M/s RenewSys India Pvt. Ltd. has committed to make a phased investment of about ₹6050 crores generating direct employment to 11,000 people over the next 5 years. The company is also expanding its operations in Telangana with this investment.
The MoU was signed in RenewSys’s factory premises at Fab City, Maheshwaram, Rangareddy District, the statement from minister Sridhar Babu read. This Rs 6000 crore investment will directly employ over 11,000 people in the coming years.