4 days ago
Sridhar Babu lays foundation stone for Rs 177-cr Toshiba plant
Hyderabad: Japanese major Toshiba has lined up Rs347-cr investment for expansion plan including a new EHVT power transformer plant, a CRGO Core Processing Centre and a Surge Arrester Unit, all located at Rudraram in Sangareddy district. Telangana IT and Industries Minister Duddilla Sridhar Babu on Friday laid the foundation stone for the Rs177 crore expansion of the Extra High Voltage Transformer (EHVT) plant, while inaugurating the two new state-of-the-art facilities worth Rs65 crore and Rs105 crore, respectively.
Sridhar Babu highlighted Telangana's rapid growth in the industrial sector. He said: 'The State is projected to achieve an industrial output of Rs2.77 lakh crore in 2024–25, with manufacturing contributing nearly 48 per cent of that. Merchandise exports worth Rs1 lakh crore have already been recorded in just nine months. Telangana's GSDP growth stands at 8.2 per cent, well above the national average, reflecting our strategic focus on economic development.' Domestic electricity demand has been increasing and it's indicating expansion of economy. With the demand for electricity expected to double in India by 2040, Telangana is aligning its industrial development with the country's future energy needs.
'The Economic Survey 2024–25 projects a surge in domestic electricity demand. To meet this, we're aggressively attracting investments in clean and renewable energy,' the Minister said.
He noted that under the State's Clean and Green Energy Policy 2025, Telangana has already attracted Rs 29,000 crore in investments and is working toward adding 20,000 MW of renewable capacity by 2030.
