Hyderabad: Highlighting the presence of a conducive business atmosphere in Telangana, Schneider Electric, a French energy management and automation player, on Wednesday took the first steps for its Smart Factory with an investment of Rs 300 crore in Phase I.
“The upcoming Smart Factory of Schneider Electric will greatly contribute to the State’s economy, which is bolstering its position as a leading investment hotbed. With India rising as an economic powerhouse, the opportunities are huge. We believe this facility, apart from catering to the needs of the industry, will also magnify revenue generation opportunities and boost job creation,” IT Minister KT Rama Rao said at the foundation laying of the project.
Spread over 18 acre, the upcoming unit will be the company’s second factory in Telangana, serving as a harbinger of growth while strengthening resilience in supply chain operations. The new facility will be developed in three phases. The first phase with 2 lakh sq. ft. facility area is expected to be completed in September 2023.
Each of the three phases will see an investment of Rs 300 crore, taking the total to about Rs 900 crore. The firm aims at creating direct and indirect employment to 1,000 people in each phase, making it 3,000 people at the new unit.
“The upcoming Smart Factory is our commitment towards making Hyderabad a leading manufacturing hub in the country. We will be investing over Rs 300 crore in this project, which will in turn create additional 1,000 jobs. We follow India for India and India for Globe strategy. I thank the State of Telangana for the support extended to make this dream a reality,” said Anil Chaudhry, Zone President, India and CEO and MD, Schneider Electric India.
“The upcoming smart factory will harness the power of Industry 4.0 technologies. This new facility with 75% export volume capacity will strengthen our position as a reliable export hub for our global customers. Our manufacturing base expansion in Telangana will also amplify our contributions to Make In India programme,” said Javed Ahmad, Sr Vice President, Global Supply Chain, International Region, Schneider Electric.
“Schneider Electric’s decades-long presence in India is a success story that mirrors the strength of the Indo-French partnership,” Ambassador of France Emmanuel Lenain said.
