HYDERABAD: IT and Industries Minister KT Rama Rao’s business trip to Dubai is off to a successful start with Telangana attracting investment worth more than Rs 1,040 crore across various sectors.
Among them, Nafco Group has decided to invest Rs 700 crore to set up a state-of-the-art manufacturing plant in Telangana. Naffco has been recognised as a global leader in fire safety with operations in more than 100 countries. The firm will also collaborate with the National Academy of Construction (NAC) in Telangana to establish a Fire Safety Training Academy.
This announcement came after a meeting held between Rama Rao and the leadership team of Nafco led by CEO Khalid Al Khatib in Dubai. Nafco expressed confidence in providing world-class fire safety measures keeping in mind the rapid growth of India and Telangana. They also added that Nafco’s plant in Telangana will produce fire safety equipment that will cater to the fire safety needs in India.
Lulu Group
The LuLu group, a renowned UAE-based company, has announced its expansion plans in Telangana. The LuLu Group delegation led by Chairman Yusuff Ali met Rama Rao and explained to him the group’s ongoing operations in shopping malls, food processing, and retail sectors in the state.
The company will invest in the proposed Aqua Cluster in the Sircilla district and expressed interest in collecting aqua products worth Rs 1,000 crore annually. The proposed investment will be focussed on cold storage and fish processing units and has the potential to create direct employment for 500 people.
DP World
DP World agreed to invest a total of Rs 215 crore in Telangana. This investment includes the expansion of Inland Container Depot operations in Hyderabad with an investment of Rs 165 crore and the establishment of a 5,000-pallet capacity cold storage in Medchal with an investment of Rs 50 crore. During the meeting, Rama Rao also discussed potential DP World partnerships for MMLP and Export zones in Telangana. DP World is a leading global trade enabler and port operator. He stated that this investment will further strengthen the logistics sector of Telangana.
Malabar Group
Malabar Group, which has already begun its operations in Telangana, has come forward to invest in other sectors. After the gold refinery, the group will now be investing in a furniture manufacturing plant with an investment of Rs 125 crore.