Hyderabad: Taiwanese consortium to invest Rs 2000 cr for technology park in Future city
Taiwanese industrialists came forward to develop Technology & Industrial Park in Hyderabad’s Future City with an investment of ₹2,000 crore
By Newsmeter Network
Hyderabad: Taiwan’s `Alliances Group’ to set up Industrial Park in Future City, invest ₹2,000 Cr for technology park
Hyderabad: `Alliances Group’, a consortium of leading Taiwanese industrialists, has come forward to develop the first world-class Technology & Industrial Park in Hyderabad’s Future City with an investment of ₹2,000 crore.
Acting on the directions of IT & Industries Minister Duddilla Sridhar Babu, a delegation from Telangana is currently visiting Taipei, Taiwan, with a concrete action plan.
As part of the Taiwan-India Economic Relations Advancement Program, 11 companies signed Memorandums of Understanding (MoUs) on Thursday to invest in this industrial park through Foreign Direct Investment (FDI).
Telangana government has already allocated 15 acres within the Kongarakalan Electronics Park for Integrated Trade Intelligence Portal (ITIP) and has been requested to allot an additional 250 acres for full-scale industrial development. Taiwanese representatives have confirmed that industrial zone development will begin immediately after the land allocation is completed.
In the first phase, industries will be set up with an investment of ₹2,000 crore over the next three years, leading to the commencement of production. This initiative is expected to create thousands of direct and indirect employment opportunities. The Technology & Industrial Park will focus on advanced technology products such as electronics and solar panels, catering to domestic demand and large-scale exports.
To support the workforce needs of these industries, Minister Sridhar Babu has assured that skilled professionals will be made available through Young India Skills University, as conveyed by Telangana’s Electronics Department Director, Wing Commander Dr. Suryakant Sharma, to the Taiwanese delegation.
Expressing his enthusiasm, Alliances Group Chairman Simon Lee highlighted Telangana’s highly skilled workforce and favorable industrial ecosystem, making it an ideal destination for Taiwanese investments. In addition, to accommodate Taiwanese professionals involved in setting up and managing these industries, a dedicated Formosa Town will be developed to reflect Taiwanese culture and lifestyle.
Simon Lee further stated that a Taiwanese delegation would soon visit Telangana to present their development roadmap to Chief Minister Revanth Reddy and Minister Sridhar Babu. The agreement ceremony was attended by Ho Chun-hsin, Chairman of the Taiwan Chamber of Commerce, and Manhar Singh Yadav, Director General of the India Taipei Association, among other dignitaries.
