Revanth Reddy Gets Global Investor For Future City: Marubeni Plans Rs 1K-Cr Ind Park
Telangana CM A Revanth Reddy along with his team holding talks with representatives of Marubeni Corp in Tokyo on Thursday
Hyderabad: Chief Minister A Revanth Reddy met senior leadership of Marubeni Corporation, a leading Japanese industrial conglomerate with interests in energy, transport, real estate, industrial infra, metals, medical services, and trading in Tokyo, on the first day of his official visit to Japan.
Following discussions with Telangana Rising delegation, Marubeni Corp submitted a proposal to establish a state-of-the-art next generation industrial park in the Future City, after which a letter of intent (LoI) was signed and exchanged with the State Government of Telangana.
With a proposed initial investment of Rs 1,000 crore, the industrial park will be developed in 600 acres in a phase-wise manner in the Future City. The industrial park will be dedicated for Japanese companies and other multinational companies to set up their manufacturing plants in Hyderabad and is likely to attract major investments of over Rs 5,000 crore. The Marubeni Industrial Park will focus on electronics, green pharma, precision engineering, aerospace and defence sectors.
Welcoming the Japanese conglomerate to Future City, Revanth Reddy said, “The Marubeni industrial park will be among the first of its kind to be developed in the proposed Future City. It is expected to create 30,000 direct and indirect jobs, enriching livelihoods and enhancing the skill ecosystem in Telangana.”
Welcoming Revanth Reddy and the delegation to Japan, Dai Sakakura, Executive Officer and COO, Next Generation Business, Marubeni, said: “We are delighted after listening to CM Revanth Reddy’s vision for Telangana and Hyderabad, and wish to be amongst the earliest to explore possibilities there.”
Marubeni operates globally in 65 countries through over 410 group companies. The company’s employees are more than 50,000 globally.
