Hyderabad, June 22 (Maxim News): Minister for IT and Industries KT Rama Rao has urged the union government to encourage the progressive States like Telangana and extend all help by offering incentives.
He was speaking at a programme after laying a foundation stone for VEM Technologies Pvt. Ltd.’s Integrated Defence Systems at NIMZ, Zaheerabad in Sangareddy district on Wednesday.
The Minister said the State government had asked the Centre to grant a defence industrial production corridor between Hyderabad and Bengaluru and conveyed it the proposed corridor would help in using each other’s strengths for value creation due to the presence of a set ecosystem.
However, ignoring the plea of Telangana State, the Centre has sanctioned it to Bundlekhand, where no such ecosystem is in place. At least now, the union government should keep aside politics and encourage the progressive States like Telangana,” KTR said.
VEM Technologies is investing Rs 1,000 crore in Zaheerabad to set up an Integrated Defence Systems unit. It is coming up in 511 acre at the National Investment and Manufacturing Zone (NIMZ) at Zaheerabad. The project is expected to create direct employment to 2,000 people and indirect employment to 4,000.
VEM is a renowned Defence and Aerospace company that offers end-to-end technology solutions and systems for various weapon systems for land, air and naval applications.
VEM, which already has two units in Hyderabad, will use this for carrying out defence works in Zaheerabad.
MP BB Patil, MLAs Manik Rao, Kranti Kiran, Bhupal Reddy, MLC Seri Subash Reddy, TSIIC Chairman G Balamallu, Zilla Parishad Chairman P. Manjusree Jaipal Reddy, principal secretary Jjayesh Ranjan, district collector Dr A Sharath were present on the occasion. (Maxim News)
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