Telangana to get rail coach unit
Stadler Rail-Medha Servo Drives to set up Rs 1,000-crore unit
Hyderabad: Stadler Rail together with home-grown Medha Servo Drives will set up a rail coach manufacturing unit in Telangana with an outlay of over Rs 1,000 crore. Stadler Rail will be the majority stakeholder in the joint venture.
The announcement was made jointly by the Government of Telangana and Stadler Rail in the presence of Industries Minister KT Rama Rao, Industries Principal Secretary Jayesh Ranjan, and Stadler Rail Executive Vice President – Sales and Marketing Ansgar Brockmeyer at the Telangana Lounge in Davos.
The joint venture will invest over Rs 1,000 crore over a period of two years into the manufacturing centre. This unit is expected to create employment for over 2,500 people in the State. The unit is set to be of extremely high importance to Stadler and Medha Servo as it will be the primary site of manufacturing for their tenders not only from India but also for their customers across the APAC region.
“I am extremely delighted that Stadler chose Hyderabad as their primary location for rail coach manufacturing for the complete APAC region in partnership with Medha Servo. This will show the world the potential that Hyderabad has, to match global investment destinations in terms of quality of talent and output,” Rama Rao said.
Ansgar Brockmeyer, Executive Vice President – Sales and Marketing, Stadler Rail, said, “This unit will be one of the most important centres for us as we plan on scaling up activities in India and the APAC region. We are very happy with the support provided by the Telangana government and look forward to more business out of the region.”
