Hyderabad is being the hotspot for business giants and thus the two business maestros are making their presence felt in this IT city.
Jayesh Ranjan, the Principal Secretary, IT and Industries informed that the Adani group, a Gujarat-based infrastructure firm and Welspun, the textile business giant are setting up logistics parks on the outskirts of Hyderabad city. He also informed that both the companies have acquired land for the same.
The Hyderabad city is becoming the favourite locality for the business sector and the favourable policies of the State Government are setting the right chord for business expansion.
Ranjan, the Principal Secretary shared this information while attending the industry body Ficci’s national executive committee meeting in Hyderabad.
The Principal Secretary informed that out of the total 600-acre land parcel, the Welspun group will develop the logistic park in 100 aces that they have acquired in the Ranga Reddy district.
Similarly, the Adani group has secured 25 acres of land parcel at a short distance from where it already has unmanned aerial vehicles manufacturing facility at Shamshabad. This facility is a joint venture of Adani group and Israeli firm Elbit Systems for which an investment of $15 million is already done.
The Adani group has a turnover of $11 billion including its business in infrastructure, real estate, FMCG, aerospace and Defence. In December 2018, the company set up UAV facility in 50,000 sq.ft. on the 20-acre Adani Aerospace Park at Shamshabad.
However, the Welspun group with a turnover of $2.3 billion is investing Rs. 1,200 crores to set up an integrated flooring solutions plant in Hyderabad.