26-05-2025
- Automotive
- New Indian Express
Telangana approves Hyundai's Rs 8,528 crore R&D centre in Zaheerabad; to generate 4,276 jobs
HYDERABAD: The Industrial Promotion Sub-Committee meeting held at Praja Bhavan on Sunday approved the establishment of the Hyundai Global Innovation Research and Development Centre in the National Investment and Manufacturing Zone (NIMZ), Zaheerabad.
The meeting was chaired by Deputy Chief Minister Mallu Bhatti Vikramarka and attended by Industries Minister D Sridhar Babu and Information Minister Ponguleti Srinivasa Reddy.
The committee noted that establishment of this company with an investment of Rs 8,528 crore across 675 acres is a significant achievement.
Hyundai representatives informed the committee that the R&D centre, which will create 4,276 jobs, will feature core facilities, including an automotive test track, pilot line and prototyping systems.
The deputy CM emphasised that officials must take all necessary steps to ensure that industries which provide significant employment opportunities and generate substantial revenue for the state do not move out of the state.
The committee held extensive discussions on industrial promotion, progress on the implementation of already signed MoUs and proposals for the establishment of new units.
Vikramarka instructed officials to prioritise proposals that could potentially bring in several ancillary industries along with a primary industry, and to work towards implementing them swiftly. He further informed officials that from now on, industrial and investment promotion meetings would be conducted every Saturday.
