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Rich haul for Telangana at Davos- Mrit News

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Swiss firm to invest in ₹1,000-cr. rail coach factory and Ferring Pharma to set up second manufacturing unit in Hyderabad

Swiss firm to invest in ₹1,000-cr. rail coach factory and Ferring Pharma to set up second manufacturing unit in Hyderabad

It was a rich haul for Telangana at the World Economic Forum in Davos, as a clutch of global firms announced multi-million investments plans, including drug-maker Ferring Pharma’s euro 60 million for a second manufacturing facility in Hyderabad and Swiss firm Stadler Rail ₹1,0000-crore rail coach factory in partnership with home-grown Medha Servo Drives.

Besides the investment commitments that were made following meetings of the senior leadership with Industries and IT Minister K. T. Rama Rao, who is in Davos leading an official delegation, a number of companies evinced interest in exploring growth opportunities in the State.

In a release, the Minister’s office said a joint venture of Stadler Rail and Medha Servo Drives, with the former as a majority stakeholder, would invest over ₹1,000 crore over two years to set a rail coach manufacturing unit in Telangana. The unit would be the primary site of manufacturing for the JV partners to cater to India as well as customers across the APAC region. The facility was expected to create employment for over 2,500 people.

“I am delighted that Stadler chose Hyderabad as its primary location for rail coach manufacturing for the complete APAC region in partnership with Medha Servo. This will show the world the potential that Hyderabad has, to match global investment destinations in terms of quality of talent and output,” said Mr. Rao.

Executive Vice President – Sales and Marketing of Stadler Ansgar Brockmeyer said: “This unit will be one of the important centres for us as we plan scaling up activities in India and in the APAC region. We are very happy with the support provided by the Government and look forward to more business out of the region.”

Switzerland-headquartered Ferring Pharma said it would investing euro 60 million over the next two-three years in another formulation unit in Hyderabad for manufacturing Pentasa (Mesalazine), which is indicated for treatment and long-term management of inflammatory bowel diseases (IBD) including ulcerative colitis and Crohn’s disease.

Ferring makes the active pharmaceutical ingredient (API), Mesalazine, at its facilities in Denmark and near Mumbai, India. The largest Mesalazine producer globally, the proposed plant in Hyderabad will be only its second for Pentasa – the other formulation unit for the drug is in Switzerland.

“I had the pleasure of inaugurating Ferring’s facility only last month and just a month after, the company has decided to invest additional euro 60 million based on their seamless experience of setting up their first facility in Hyderabad. It is a testament to the pro-business policies of Telangana government,” the Minister said.

In another announcement, Mr.Rao’s office said Schneider Electric will be setting up its second manufacturing unit in Telangana. As the State continues to grow companies like Schneider Electric will play a crucial role in meeting energy management and automation needs of the industries and factories. “Schneider Electric while doubling it’s capacity with its second manufacturing facility in Telangana would help create additional 1,000 jobs. The company would manufacture breakers, connectors and switches for energy management and automation products from its new facility, Mr. Rao said after a meeting with Schneider Electric’s Executive Vice-President Luc Remont.

At another meeting, Mr. Rao met Roche Chairman Christoph Franz and showcased the growth opportunities in the State. He underscored the significance of the firm, a global leader in pharmaceuticals and diagnostics, to join the vibrant ecosystem in Telangana.  Byjus co-founders Raveendran and Divya Gokulnath and Hitachi India MD Bharat Kaushal were among those with whom the Minister had meetings.

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