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2 Japanese firms to invest Rs 576 cr in TS
2 Japanese firms to invest Rs 576 cr in TS
Daifuku to invest `450 cr, while Nicomac Taikisha will be investing `126 cr in Telangana
Hyderabad: Daifuku Co Ltd, Japanese provider of automated material handling technology and solutions, has proposed to construct a new manufacturing facility in Telangana. With an investment of Rs 450 crore, the new state-of-the-art factory will have more than 2 lakh sq ft to augment its current facility of 60,000 sq ft and is slated to produce world class intralogistics equipment.
The first phase of expansion envisages a planned investment of Rs 200 crore and Daifuku expects to operationalize its new factory within the next 18 months. Another Japanese firm Nicomac Taikisha Cleanrooms Pvt Ltd will set up its third manufacturing facility in Hyderabad by investing Rs 126 crore. The company will expand its cleanrooms production and start producing HVAC systems.
On the occasion, KT Rama Rao, Minister for IT, Industries, MA & UD, Government of Telangana, said: "The world at large and especially post-pandemic all of us need more infusion of positive news. Daifuku is coming to Telangana and setting up a brand-new factory with Rs 450-crore investment, and to provide employment to eight hundred plus people."
"We are building Telangana's largest industrial parks at Dandumalkapur and its shaping up very well. I would wish FTCCI, CII, FICCI or even Japanese organisations to come together and create such large parks. We need to learn from Japanese, they have done some very smart things, either they have gone underground in some cases or they have gone up vertically," he said.
The minister said, "Capital is no more an issue if you have an idea that can really work, unlike in the past. With the world looking at us with renewed enthusiasm, Indian entrepreneurs need to make some bold moves, I request Telangana entrepreneurs to please think big and think of products for the world, not just for India. I am strong believer that we have in us to make world class products."
Srinivas Garimella, Managing Director of Daifuku's Indian Subsidiary, Vega Conveyors & Automation Pvt Ltd, said: "This expansion, which will include technology transfer from Japan will not only help us in expecting our localization plans but will also accelerate our product development pipeline in India so that we can serve the needs of our Indian customers with greater efficiency."
