French multinational company Schneider Electric is setting up a factory in Hyderabad with an investment of Rs 300 crore. The groundbreaking ceremony of the ‘state-of-the-art smart factory’ was attended by Telangana Minister for Industries KT Rama Rao on Thursday, September 29. The upcoming factory will be spread over 18 acres in GMR Industrial Park and will be Schneider Electric’s second factory in Telangana. The new factory will be developed in two phases, and the first phase, with a facility spread over 2 lakh square feet, is expected to be completed by September 2023.
A release from Minister KTR’s office called Schneider Electric “the global leader in the digital transformation of energy management and automation,” and KTR said he hoped that the new facility, “apart from catering to the needs of the industry, will also magnify revenue generation opportunities and boost job creation.”
Earlier in July, KTR had inaugurated two new plants of French aerospace major Safran in Hyderabad. Safran had announced that it would set up a mega aero engine MRO (maintenance, research and overhaul) facility in Hyderabad. The MRO and test cell will come up with an initial investment of $150 million, expected to be completed in 2025. KTR had said the project holds national importance as the first engine MRO in the country by a global EOM (original equipment manufacturer) in India.
He said the state government was in discussion with Safran for the project since 2020 and he was told that Hyderabad competed with Bengaluru and Chennai. KTR said the MRO would not only cater to airlines in India, but many airlines in the Middle East will send planes to Hyderabad and a lot of airlines in South East Asia would also use the facility. "This new investment is a huge endorsement of the robustness of the aerospace ecosystem in Hyderabad. This will encourage other aerospace and defence investors to choose Telangana for their Indian foray," he had said. KTR had also welcomed Safran's announcement to set up a digital transformation centre in Hyderabad.
Minister @KTRTRS participated in the ground breaking ceremony of @SchneiderElec new state-of-the art Smart Factory in Hyderabad with an investment of Rs 300 Cr.
— Minister for IT, Industries, MA & UD, Telangana (@MinisterKTR) September 29, 2022
Schneider Electric is the global leader in digital transformation of energy management and automation. pic.twitter.com/KFaXzWVAbD
With IANS inputs