Minister for IT and Industries K T Rama Rao today announced that Rajesh Exports (Elest), a Fortune 500 company, had expressed its readiness to set up a unit in Telangana by investing Rs. 24,000 crore.
The minister tweeted, "Historic day for Telangana. Rajesh Exports (Elest), a Fortune-500 company, to set up India's first Display FAB to manufacture the most advanced AMOLED displays, with an investment of Rs 24,000 cr, making it one of the largest investments in high-tech manufacturing sector in India. (sic)"
He added, "Telangana puts India on the world map of advanced high-tech manufacturing. What was hitherto possible only in Japan, Korea & Taiwan, will now happen in Telangana. To create large scale ecosystem of partners & ancillaries, supplying to world class TV, smartphone & tablet makers. (sic)"
Rajesh Exports is a $34 billion company headquartered in Bengaluru.
filed in:Telangana, Industry & Business, Investments