A technology development centre of German auto parts major ZF established at a cost of ₹322 crore in Hyderabad will be inaugurated on June 1.
“A testimony for Hyderabad in the growing mobility space. ZF announces its expansion plan in Hyderabad with 3,000 employees and will be a big part of the Telangana Mobility Valley,” Industries and IT Minister K. T. Rama Rao tweeted on Thursday.
It will be ZF’s largest facility among its 100 locations and 18 major development centres across the globe. The new facility coming up in Nanakramguda will be inaugurated on June 1, the Minister said, wrapping up his engagements in Davos where he led an official delegation to the World Economic Forum.
The ZF Group inaugurated its ZF Technology Centre India (TCI) in Hyderabad on March 2, 2017. Currently, ZF has more than 1,950 engineers working on development projects from the country through its service partners and employees. It added over 800 engineers to its workforce at the centre, a facility that plays a major role in company’s digitalization strategy. According to ZF, the India technology centre plays a critical support role in the area of electronics, embedded software and mechanical engineering.
On his 10-day trip to the UK and Davos, the Minister said: “an extremely productive trip comes to an end.” It was fruitful and fulfilling and consisted of 45 business meetings; four round tables and an equal number of panel discussions, attracting over ₹4,200 crore investments. “A big thanks to my team and Telangana diaspora for making it a huge success,” he said in a tweet.
The primary aim was to showcase Telangana as an investment destination to global companies and bringing investments to the State thus creating more employment opportunities for the youth. The Minister’s office in a release said Mr. Rama Rao met representatives of several renowned organisations. Several companies have come forward to invest in the State after the meetings.
Mr. Rama Rao said: “as always @wef at Davos has been a great opportunity to network, liaise and mingle with the best policy makers, business leaders and thought leaders. Most importantly to position Telangana positively as an investment destination.”