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China’s KDX to set up electronics plant in TS
However, the companies did not reveal the investments that would go into the new manufacturing facility and the timeline for its establishment.
Signs MoU with Telangana govt; Plans to make 3D screens, mobiles, TVs
Hyderabad: Chinese electronics major Kangde Xin Composite Material Co, LTD (known as KDX) and Dubai-based Aries Epica Electronics LLC on Friday signed an agreement with Telangana government to jointly establish an electronics manufacturing facility in the State to manufacture 3D screens, mobile handsets, tablets, televisions and electronic home appliances.
However, the companies did not reveal the investments that would go into the new manufacturing facility and the timeline for its establishment. KDX, which is listed on Shenzhen Stock Exchange in China claimed that it was the only electronics manufacturer in the world to have the technology to make 3D screens that would not require 3D glasses to view 3D content.
Under the memorandum of understanding (MoU), the government will extend all incentives and subsidies to the companies as per cent Electronic Hardware Policy and Policy for Mobile Manufacturers, wherever is applicable. The companies will recruit from Telangana talent pool.
A team of representatives from both the companies met IT Minister KT Rama Rao here on Friday and explained about their joint venture investment and expansion plans in Telangana. They also apprised him of the company’s portfolio ranging from manufacturing electronic devices to content production for the entertainment industry.
The IT Minister welcomed them to the State and assured all possible support to enable the companies to set up the facility in a shortest possible time. He further informed the delegation that the government had accorded requisite permissions to around 1700 industries under its new single window policy till date.
He also explained them about the best infrastructure and existing ecosystem which will help the electronics and entertainment giant to grow bigger and faster as Telangana government will come up with its gaming city.
“Recognising the inherent advantages of Telangana, including the availability of skilled manpower, presence of a vibrant technology ecosystem, ease of doing business, availability of space availability at various electronic manufacturing clusters and IT parks/SEZs at competitive prices and attractive incentives, the companies seek to take this relationship to the new level for the benefit of all,” an official release from TS government said.
Biao Zhang, group vice chairman, KDX, presented to the IT Minister a mobile handset with 3D screen of the company 3D and also showcased its unique technology features. In 2015, KDX reported over $1.2 billion in total revenues and has more than $10 billion market capitalisation as of today. Its JV partner Aries Epica Electronics LLC is a part of Dubai-based Aries group, a multinational conglomerate with 45 companies and presence in 15 countries across the world.
