TELANGANA (Metro Rail News): Stradler Rail has decided to set up a Rail Coach Manufacturing facility in Telangana and it will be a hoint venture between Medha Servo Drives Pvt Ltd and Swiss railway rolling stock manufacturer Stadler Rail. The project will cost around Rs 1,000 crore.
Stadler Rail Executive Vice President Ansgard Brockmeyer and the Principal Secretary for ITE&C, Government of Telangana, Jayesh Ranjan, signed a Memorandum of Understanding (MoU) in the presence of Minister KT Rama Rao in the Telangana Pavilion at the World Economic Forum in Davos.
According to the MoU the company is going to invest Rs 1,000 crore in the Rail Coach manufacturing facility which will create around 2,500 jobs for youngsters. people from across the state.
Minister KT Rama Rao welcomed the Stadler Rail Company for coming forward to set up their railway coach production facility in the southern state of Telangana. KTR also said that the investment further cements Telangana’s position as a global investment destination.