Daifuku to invest 450 crore in Telangana

The Telangana Government has signed an agreement with Daifuku Company, which provides automated material handling technology and solutions. The company is setting up a new manufacturing facility in Telangana

Hyderabad: Welcoming Daifuku Company Limited’s Rs.450 crore investment in Telangana, Industries Minister KT Rama Rao urged the Industrialists in the State to think big and make world class products.

The Telangana Government has signed an agreement with Daifuku Company, which provides automated material handling technology and solutions. The company is setting up a new manufacturing facility in Telangana.

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The new factory with a footprint of more than 200,000 square feet will augment its current facility of 60,000 square feet at Pashamylaram.

The new facility, which is likely to come up at Chandanvelly, in the first phase envisages a planned investment of Rs.200 crore and Daifuku plans to operationalise the new facility within the next 18 months.

Addressing on the occasion, the Minister said land was a luxurious commodity and wanted Industrialists to be more innovative and to make new inventions.

“Capital access was a big challenge in the past. It is no more a challenge now with government extending all support. Indian entrepreneurs need to be more bold and aggressive” Rama Rao said.

Citing the example of industrial park at Dandumalkapur, the Minister wanted Industrialists to compete on scaling up their operations and set up big parks in the State.

Stressing on the need to focus more on manufacturing sector, the Minister said India needs to achieve all the growth and development in the sector in 10 years against the United States, which achieved in 30 years and China in 25 years.

“We need to pole vault and outpace others. Apart from hitec and smart manufacturing, there should be emphasis on basic manufacturing” he said.

Recalling his recent meeting with Procter and Gamble, the Minister he wanted the company to have a tie up with IIT Basara for introducing apprenticeship courses. It would be a win-win situation for both the company and the institution, he added.

Daifuku’s Indian subsidiary, Vega Conveyors and Automation Private Limited, Srinivas Garimella said the company’s expansion, which will include technology transfer from Japan will not only help us in expecting out localisation plans but will also accelerate our product development pipeline in India.