Korean firms offered land for setting up exclusive industrial park in Telangana

The Telangana Government has offered to set up an exclusive investment park for Korean companies.

A group of Korean companies, which includes representatives from the likes of Posco, Hyundai, and some electronics companies, now on tour of Hyderabad as a part of the Korean Caravan, have been shown a few sites where they could possibly locate their factories, services companies, and other infrastructure, including schools.

Arvind Kumar, Principal Secretary, Industries, Telangana, said, “Recently during a meeting with the Central Government, State Chief Secretary Rajeev Sharma, had proposed the move to develop an exclusive park to host Korean companies. We are now in discussions and have shown some sites to them during the visit of the delegation here.”

“Based on their response, we will offer them land and extend all necessary infrastructure and support to set up their facilities here,” he told on the sidelines of the meeting here today.

Currently, Hyundai has an R&D centre here and they have grown in Tamil Nadu with two automotive plants. “As they expand, we want them to consider Telangana and also encourage them to set up ancillary units,” he said.

Gaurav Sishodia, Manager, KoreaPlus, Invest India, said later during this month KoreaPlus, an initiative which seeks to encourage Korean investments into India while also addressing concerns of some of the companies which have set up facilities or are in the process of setting up by taking them up with the Government and resolving them.

Cho Hyun, Ambassador of Korea, said, “After the Narendra Modi Government assumed office and later with his visit to Korea, there is growing bonding between Indian and Korean companies. The Korean Caravan visiting Hyderabad is part of this exercise which seeks to tap into new areas.”

Mentioning about India-Korean collaborative initiative, he said together they plan to work on new generation vaccines.

Earlier Papa Rao, Senior Advisor, Telangana Government, said the State has all the attributes to make it a great investment destination for Korean companies. Mentioning about how Chief Minister K Chandrasekhar Rao has managed to ensure robust power supply, he said within couple of years, the water supply network being developed under Mission Bhageeratha, would provide piped water supply to every household and also industrial establishments in the State.

In addressing two major issues, power and water and a hassle free clearance system for industries, Telangana would become an attractive destination for investments. The low cost of living and available land bank provides the added attraction, he said.

COMMENT NOW