Building materials park with 650 crore funds boost


Building materials park with 650 crore funds boost

Telangana

Telangana

KEF Infra, a division of KEF Holdings, a multinational diversified Group with operations in strategic investments, infrastructure manufacturing, and healthcare development, across India, UAE and Singapore on Saturday announced that the company will be set up "Construction Building Manufacturing Park in Telangana".

Speaking at the announcement of the park, Telangana IT Minister K T Rama Rao said, "When KEF Infra chose to invest in the State we were very delighted to help them in any way possible".

Besides investing Rs 650 crore in its own plant in an extent of 50 acres as an anchor investor in the park, KEF Infra will promote the park for investments from ecosystem players in India and overseas. "We will finalise the location in 3-4 days". This park is an extension of government's agenda to encourage local manufacturing by not only providing them amenities at subsidised rates but also to procure their products for State building.

The Construction and Buildings Materials Manufacturing Park as a whole is expected to create more than 10,000 direct jobs, thus offering a huge potential for new job creation, said officials.

Elaborating on the park and their plant, KEF Holdings chairman, Faizal E Kottikollon said, "The offsite manufacturing mother plant in Telangana is going to be our second biggest after our maiden plant in Krishnagiri in Tamil Nadu". "We will also be promoting the park along with KEF Infra to attract investors from India and overseas, particularly Middle East and Europe", KTR explained.