“Source:- Business Standard”
Hyderabad-based diversified firm, on Thursday laid the foundation for setting up a rail coach factory in Telangana at an investment of Rs 1,000 crore.
State Minister for IT and Industries KT Rama Rao participated in the ground-breaking ceremony of the Medha Rail Coach Factory in Kondakal village in neighbouring Rangareddy district, an official press release said.
The factory is expected to create 1,000 direct and 1,200 indirect jobs in the region, said the release.
“The facility will have a capacity of manufacturing coaches, locomotives, inter-city train sets, metro trains and monorail, among others. Production capacity is planned for 500 coaches of various types and 50 locomotives per year,” Medha Servo said.
Medha Servo Drives Pvt. Ltd designs and manufactures various world-class high-tech electronics products for application on locomotives, train sets, coaches, railway stations and yards, making it the largest propulsion equipment supplier to the Indian Railways.
Speaking at the ceremony, Rama Rao said Chief Minister K Chandrashekhar Rao-led governments pro-active approach and conducive policies have encouraged Medha Group to establish its world-class rail coach factory.
The Minister said the facility is expected to create an eco system for rail coach manufacturing in the state.
Medha Servo Drives claims the new factory to be the largest private sector rail coach manufacturing unit in the country.