Dubai firms commit Rs 915 cr to Telangana in KTR’s visit
NAFFCO comes forward to invest Rs 700 cr in the State while DP World has announced to invest Rs 215 crore to expand its operations here
image for illustrative purpose
Hyderabad: Telangana IT & Industries Minister K Taraka Rama Rao's visit to Dubai started successfully on Tuesday. He held meetings with the top representatives of many companies as part of his visit to the Middle Eastern country. In this tour, the State has so far attracted investments worth Rs 915 crore.
Middle East-based NAFFCO, the world-renowned fire-fighting equipment manufacturing company, has come forward to invest Rs 700 crore in the State. Another Dubai-based leading port operator DP World has announced to invest Rs 215 crore to expand its operations in the State.
A delegation led by the minister met Khalid Al Khatib, CEO of NAFFCO. After the meeting, the company said that it will manufacture its firefighting equipment in Telangana with an investment of Rs 700 crore. It is confident that the need for firefighting equipment and firefighting services will increase significantly in the future. The upcoming plant in the State will meet the demand for firefighting products in India.
Apart from this, NAFFCO has agreed to the proposal of the minister to establish a global level fire safety training academy in collaboration with the National Academy of Construction in Telangana. Khalid informed KTR that their company is ready to provide their expertise and firefighting training through this training academy in Telangana as a hub for more than 100 countries in which it is operating.
On the same day, DP World Group Executive Vice President Anil Mehta and DP World Project Development Director Salush Shastri met the minister in Dubai. On this occasion, DP World announced plans to expand its operations in the State by investing Rs 165 crore for its inland container depot operation in Hyderabad.
On this occasion, KTR explained the many pro-business policies and programmes undertaken by the Telangana State Government in the last nine years. Apart from this, the State has made excellent progress in the field of agriculture. DP World said that it will invest in Telangana in the field of cold storage warehouse housing, which is a strong advocate for the progress of the agricultural sector.
DP World informed the minister that a cold storage warehouse with a capacity of 5,000 pallets is being set up with world-class standards in Medchal area and an investment of Rs 50 crore is being made for this purpose.
KTR said that an international logistics giant like DP World coming forward to invest in Telangana and expanding its operations will help strengthen the logistics sector of the State. He said that the State government will provide all the necessary support and assistance to DP World for the expansion of its activities.
