Propulsion systems manufacturer Medha Servo Drivers signed a memorandum of understanding with the Indian state of Telangana to set up a railway coach factory near Hyderabad. The investment will be of Rs 8 billion (EUR 106.4 million). This will be one of the few railway coach factories in the private sector and will boost manufacturing in Telangana. The company plans to make diesel and electric locomotives and even export coaches to the US and Europe.
The factory will be built near Kondakal in Sangareddy district. The manufacturing unit will be set up with a strategic foreign collaborator who has not been named. According to Industries Minister K. Tarakarama Rao, work on the factory will begin in the first quarter of next year. The state government has allotted 100 acres of land for the plant.
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