HYDERABAD: Advanced Optronic Devices (International) Inc of the US has come forward to set up an LED bulbs manufacturing unit in Hyderabad and is ready to start commercial production in March next.
AOD, in partnership with Syska, an marketing company based in India, has planned to invest Rs 500 crore in the plant which will provide jobs to around 2,000 persons. The unit will come up on a 50-acre land.
Apart from the LED bulbs manufacturing unit, the American company will also set up some allied industries.
Syska director Rajesh Uttam Chandani, Advanced Optronic Devices chief executive officer Pratap Kandamuri, general manager Ravi Indrani and director Andrews called on the Chief Minister K Chandrasekhar Rao at his camp office here on Monday and submitted their proposals. Rao assured that the required land would be allotted and all cooperation extended by his government for the unit.
The AOD representatives told him that they were ready to start production very soon, that is in March.
Rao said the usage of LED bulbs should increase as the bulbs would consume less energy. He told the visiting industrialists that the new industrial policy, TS-iPASS, was yielding the desired results. “Permission has been accorded to 69 major industries so far under the new policy. Our industrial policy is in conformity with ‘Business At Ease’ and gives no scope for corrupt practices,” Rao said.
Pharma City and Film City were coming up in Hyderabad and several IT industries too were keen to come here, he claimed.