HYDERABAD: Malaysia-based DXN company announced on Tuesday that it would invest around `250 crore near the international airport area in the agriculture and allied sectors. This will be their second unit in the State. DXN founder and CEO Lim Siow Jin announced this in Kuala Lumpur at a press conference on Tuesday. Agriculture Minister Singireddy Niranjan Reddy was also present at the press meet.
The Agriculture Minister held talks with DXN founder and invited him to tour in Telangana. Lim Siow Jin explained that the proposed facility would create 1,000 to 1,500 job opportunities in Telangana and it was expected to be completed by 2020.
DXN, through its subsidiary unit - DXN Manufacturing India Private Limited had an investment of 25 million US dollars to purchase 50 acres of land in Siddipet to facilitate the construction of the factory in 2.27 lakh square ft area for the production of coffee, beverages, household and cosmetic products and Ayurvedic herbs for the use of local and international consumer market. Lim Siow Jin expects the proposed facility in Telangana to be double the size of its factory in Malaysia.