BJP MLA M Raghunandan Rao slams KT Rama Rao for US firm’s exit

BJP MLA M Raghunandan Rao attacked IT and Industries Minister KT Rama Rao over the exit of Tishman Speyer, a US-based IT company, from Telangana.

Published: 30th September 2021 07:48 AM  |   Last Updated: 30th September 2021 07:48 AM   |  A+A-

By Express News Service

HYDERABAD: BJP MLA M Raghunandan Rao attacked IT and Industries Minister KT Rama Rao over the exit of Tishman Speyer, a US-based IT company, from Telangana. Addressing mediapersons at the party office on Wednesday, he said that the State government’s negligent attitude had caused the firm to drop its idea of doing business in India.

The MLA claimed that even though the IT firm had purchased 400 acres of land in Tellapur, Sangareddy in 2007, political uncertainty and the government’s failure to resolve a legal dispute between HMDA and Tishman Speyer had led to the company not establishing its Techno Park in the erstwhile Medak district.
Raghunandan Rao questioned the Minister’s claims of big companies establishing their business in the State, and asked why the IT parks promised in Qutbullapur and Kompally were not built till date. 

He also also asked the reason behind the government not asking companies to open their offices in the IT park built at Uppal in 2011.Rao said that Tishman Speyer had decided to fold its operations even after winning an auction in 2007 and paying `400 crore of the total `1,686 crores they were supposed to.

Claiming that not a single IT company was established in the special economic zone at Adibatla since 2014, he said that Cyrus Investments Ltd, Shapoorji Pallonji Group and many other companies were caught up in legal issues and had decided to call off their plans to make investments in Telangana.

He rubbished the claims of Rama Rao, who had stated that startups were packing up under the BJP’s rule. “Many startups are coming from ISB, IIT and IIIT, and these are Central government institutions. How many Telangana’s startups were encouraged under your rule?” he asked the Minister.


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