Latest news with #IndustrialPromotionSub-Committee
The Hindu
26-05-2025
- Automotive
- The Hindu
Korean automobile major Hyundai gets official clearance for Global Innovation R&D Centre at NIMZ, Zaheerabad
Days after Telangana Chief Minister A. Revanth Reddy's announcement on the project, a State government committee tasked with industrial promotion gave official clearance for Korean automobile major Hyundai's proposal to set up a Global Innovation Research and Development Centre at the National Investment and Manufacturing Zone (NIMZ) in Zaheerabad, Telangana. Hyundai would be establishing the facility with an investment of ₹8,528 crore. The project that would come up on 675 acres. An automotive test track, pilot line and prototyping systems would be among its core features, company representatives told the Industrial Promotion Sub-Committee that at a meeting, held in Hyderabad on Sunday (May 25, 2025), approved the project. The R&D center will create employment for 4,276 local youth, they informed the meeting of the sub-committee that met under the leadership of Deputy Chief Minister Bhatti Vikramarka Mallu. IT and Industries Minister D. Sridhar Babu and Revenue Minister Ponguleti Srinivas Reddy, as members, and senior officials participated. Addressing the gathering, the Deputy Chief Minister urged officials to initiate all steps necessary to ensure industries — that provide significant employment opportunities and generate substantial revenue for the State — remain in Telangana. He instructed officials to prioritise proposals that could potentially bring in several ancillary industries and to work towards implementing the projects swiftly, Industries and IT Minister's office said in a release. Industrial and Investment Promotion meetings every Saturday Mr. Bhatti, who is also the Finance and Energy Minister, announced that the Industrial and Investment Promotion meetings will be held every Saturday. The sub-committee advised officials to focus strategically on such proposals that can bring large-scale employment for the youth and generate substantial revenue for the State through development of ancillary industries. The committee held extensive discussions on industrial promotion, the status report on implementation of projects for which MoUs had already been signed and proposals for the establishment of new units. Mr. Sridhar Babu said ongoing industrial projects are poised to provide large-scale employment and revenue for the State in coming years. Industries Principal Secretary Sanjay Kumar, Special Secretary to Chief Minister Ajit Reddy, TSIIC MD Vishnuvardhan Reddy, Director of Industries G. Malsur, Commercial Taxes Commissioner Haritha, Deputy Chief Minister's Special Secretary and TRANSCO CMD Krishna Bhaskar were among those who attended the meeting.
New Indian Express
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.
