Hyderabad: A consortium of leading Taiwanese industrialists, the Eliance Group, is set to establish a world-class Technology and Industrial Park (ITIP) in Hyderabad’s Future City with an investment of Rs 2,000 crore.
This initiative marks a significant step in strengthening Taiwan-India economic relations.
A delegation from the Telangana government is currently in Taipei to facilitate the project, following the directives of the Minister for IT and Industries, Duddilla Sridhar Babu.
On Thursday, March 20, 11 organizations signed Memorandums of Understanding (MoUs) to invest in Hyderabad as part of the broader Taiwan-India economic program.
15 acres in Kongarkalan allocated
The state government has already allocated 15 acres in Kongarakalan’s electronics park for the ITIP. Taiwanese companies have requested an additional 250 acres to accommodate the full scale of industrial operations.
Representatives from Taiwan have indicated that construction will commence as soon as the land allocation is finalized.
The first phase of the project, involving an investment of Rs 2,000 crore, is expected to be completed within the next three years, with production slated to begin shortly thereafter. The park will focus on the production of electronics and solar equipment.
Skilled personnel would be provided: Sridhar Babu
Minister Sridhar Babu assured that skilled personnel would be provided to the industries through the Young India Skills University. This message was conveyed to the Taiwanese representatives by Wing Commander Dr. Suryakanth Sharma, director of the State Electronics Division.
“Telangana offers a highly favorable industrial ecosystem along with a talented pool of human resources,” said Simon Lee, Chairman of the Taiwan Representatives Group.
“We plan to build a ‘Formosa Town’ for the Taiwanese experts who will be working here. We will soon visit Telangana to present our plans to chief minister A Revanth Reddy and minister Sridhar Babu.”
The agreement ceremony saw participation from key figures such as Ho Chu-Hsin, representing the Taiwan Chamber of Commerce, and Manhar Singh Yadav, Director General of the India Taipei Association.
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