The Swiss firm will invest ₹1,000 crore. Rail Coach Factory and Ferring Pharma to set up second manufacturing unit in Hyderabad
The Swiss firm will invest ₹1,000 crore. Rail Coach Factory and Ferring Pharma to set up second manufacturing unit in Hyderabad
It was a prosperous run for Telangana at the World Economic Forum in Davos, as a group of global firms announced multimillion investment plans, including 60 million euros for drug maker Ferring Pharma’s second manufacturing facility in Hyderabad and Swiss firm Stadler. Rail includes ₹. Rs.10000 crore Rail Coach Factory in partnership with Domestic Medha Servo Drives.
Apart from investment commitments made after senior leadership meetings with Industries and IT Minister KT Rama Rao, who is leading an official delegation in Davos, several companies showed interest in exploring growth opportunities in the state.
In a release, the minister’s office said a joint venture of Stadler Rail and Medha Servo Drives, in which the former are majority stakeholders, will invest over ₹1,000 crore over two years to set up a rail coach manufacturing unit in Telangana. . The unit will be the primary site of manufacturing for joint venture partners to cater to customers in India as well as the APAC region. The facility was expected to generate employment for over 2,500 people.
“I am delighted that Stadler, in partnership with Medha Servo, has selected Hyderabad as its primary location for rail coach manufacturing for the entire APAC region. This will show the world that it surpasses global investment destinations in terms of talent and quality of production. Hyderabad has the potential to match,” Mr Rao said.
Stadler Anger Brockmeyer Executive Vice President – Sales and Marketing said: “This unit will be one of the important centers for us as we plan to increase activities in India and the APAC region. We are very pleased with the support provided by the government. And look forward to more business from this area.”
Switzerland-headquartered Ferring Pharma said it will invest 60 million euros in another formulations unit in Hyderabad over the next two-three years to manufacture Pentasa (mesalazine), which is used for the treatment of inflammatory bowel diseases (IBD) and long-term health care. Management is indicated. Ulcerative colitis and Crohn’s disease.
Ferring manufactures active pharmaceutical ingredients (APIs) at its facilities near Mesalazine, Denmark and Mumbai, India. The proposed plant in Hyderabad, the largest mesalazine producer globally, will be second only to Pentasa’s – the other manufacturing unit for the drug is in Switzerland.
“I had the pleasure of inaugurating the Ferring facility just last month and exactly a month later, the company has decided to invest an additional 60 million Euros based on its intuitive experience of setting up its first facility in Hyderabad. This Telangana Evidence of the pro-business policies of the government.
In another announcement, Mr Rao’s office said that Schneider Electric will set up its second manufacturing unit in Telangana. As the state continues to grow, companies such as Schneider Electric will play an important role in meeting the energy management and automation needs of industries and factories. “Schneider Electric will help create an additional 1,000 jobs while doubling its capacity with its second manufacturing facility in Telangana. The company will manufacture breakers, connectors and switches for energy management and automation products from its new facility, Mr Rao said after meeting with Luke Raymont, executive vice president of Schneider Electric.
In another meeting, Mr. Rao met Roche President Christoph Franz and showcased the development opportunities in the state. He underlined the importance of the firm, a global leader in pharmaceuticals and diagnostics, to join the vibrant ecosystem in Telangana. Byju’s co-founders Ravindran and Divya Gokulnath and Hitachi India MD Bharat Kaushal were among those with whom the minister had a meeting.