Hyderabad: Marubeni Corp to establish Industrial Park in Future City

During the ongoing Japan tour, Chief Minister A Revanth Reddy met with the senior leadership of Marubeni Corporation and a Letter of Intent (LoI) was exchanged by both sides

Hyderabad: Marubeni Corporation, a leading Japanese industrial conglomerate evinced interest in establishing a next-generation Industrial Park to be developed in 600 acres in a phase-wise manner in Future City. During the ongoing Japan tour, Chief Minister A Revanth Reddy met with the senior leadership of Marubeni Corporation and a Letter of Intent (LoI) was exchanged by both sides. Initially, the company will be investing Rs.1,000 crore, according to an official statement.

The industrial park will be dedicated for Japanese companies and other multinational companies to set up their manufacturing plants in Hyderabad and would attract major investments of over Rs.5,000 crore, the statement claimed, adding that the Marubeni Industrial Park would focus on electronics, Green Pharma, precision engineering, aerospace and defence sectors.

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“The Marubeni industrial park will be among the first of its kind to be developed in the proposed ‘Future City’. It is expected to create 30,000 direct and indirect jobs in Telangana,” Revanth Reddy said.

Dai Sakakura, Executive Officer and COO, Next Generation Business, Marubeni, was present.