Telangana IT minister Sridhar Babu clarifies on companies leaving state

Hyderabad Desk

Hyderabad: IT minister D Sridhar Babu while interacting with mediapersons clarified why companies were leaving Telangana since the Congress government took over.

Speaking on Sunday, Sridhar said projects amounting to Rs 9,000 crore will be formalized through memoranda of understanding (MoUs) within three months. Furthermore, the government has achieved Rs 40,000 crore worth of investments during the Davos economic summit.

“Keynes Technology, which during the BRS rule had announced setting up its Assembly and Testing (OSAT) and compound semiconductor manufacturing facility in Telangana with an investment of Rs 2800 crore is still waiting for incentives from the Union government,” Sridhar said.

The new facility is expected to generate employment for 2000 people.

Also Read

Telangana: Kaynes Tech’s upcoming manufacturing unit to create 2K jobs

“Former IT minister K T Rama Rao had announced that the US-based speciality glass, ceramics, and related materials and technologies provider Corning Inc. would set up a gorilla glass manufacturing unit. However, the MoU or the binding agreement was never signed but the announcement was already made,” Sridhar told press reporters.

Also Read

Corning to setup Gorilla glass manufacturing unit in Telangana

“We are not idle, if companies go tonnes of companies will come to Telangana,” Sridhar said.

Also Read