Hyderabad: IT and Industries Minister KT Rama Rao will make an announcement pertaining to a major investment flow into the State on Thursday. He hinted that the investment would be bigger than those announced in the recent past.
On Tuesday, Hyderabad-based pharma company Granules India announced its plans to invest Rs 400 crore to set up a manufacturing facility for finished dosages and create about 1,600 jobs. Similarly, another pharma manufacturing company Laurus Labs also revealed its plans to invest Rs 300 crore to establish a formulation facility in the State.
Speaking to media persons here on Wednesday, the Minister said the State government was attracting investments even during the Covid-19 pandemic due to its continuous efforts over a period of time. “Investments do not come overnight. It is a culmination of a series of meetings due to collective effort of the entire government,” he said.
Rama Rao said about 80 percent of the investment proposals have been operationalized and the remaining 20 percent are in various stages of implementation. About 23 percent of the total investments are from existing units who are expanding their operations. In the past six years, about 13,000 companies came up with proposals to invest around Rs 2 lakh crore.
