Daifuku To Invest Rs 450 Crore In Telangana

Daifuku Co Ltd, a Japanese material-handling equipment company, will set up a new manufacturing facility in Telangana.

The Telangana government on Tuesday signed an agreement with the company to that effect in the presence of Minister for IT and Industries K T Rama Rao.

Daifuku, the world's leading material handling system supplier, will invest Rs 450 crore into the facility and provide employment to over 800 people.

Speaking on the occasion, the minister said, "Despite relatively small population, frequent earthquakes and other natural disasters, and atomic explosions over Hiroshima and Nagasaki, Japan continues to be a dominant economic force. India has to pick the best elements from different parts of the world and pole-vault to achieve economic growth. There is a need to introduce basic design thinking at the school level, and reinvigorate the apprenticeship model in higher education."

He also said that land was a precious commodity, and wanted industrialists to be more innovative and make newer inventions. Citing the example of the industrial park at Dandumalkapur, the minister wanted industrialists to compete in scaling up their operations and set up big parks in the State.

Jubilee Hills MLA Maganti Gopinath, Principal Secretary (Industries) Jayesh Ranjan, Special Secretary (Investment Promotion and External Engagement) Dr E Vishnu Vardhan Reddy, TSIIC MD Narasimha Reddy, and the Managing Director of Daifuku's Indian subsidiary Vega Conveyors & Automation Srinivas Garimella and its Executive Director Naoyuki Andou were present on the occasion.