Galla Voices Concern Over Telangana Commitment to Amara Raja's Expansion
Amara Raja Energy & Mobility Chairman Jayadev Galla expressed concerns about the Telangana government's ability to honor commitments made by the previous BRS regime. This comes as Telangana Chief Minister A Revanth Reddy promotes the state in the US as an investment hub. Galla's comments follow Amara Raja's recent groundbreaking ceremony for their Customer Qualification Plant and the inauguration of a 1.5 GWh battery pack plant.
- Country:
- India
Concerns have been raised by Amara Raja Energy & Mobility Chairman Jayadev Galla regarding the Telangana government's financial stability and its ability to uphold commitments made by the previous BRS administration. Speaking on Saturday, Galla indicated that failure to honor these commitments might force the company to seek alternative locations for plant expansion.
The comments come as Chief Minister A Revanth Reddy tours the US, promoting Telangana as a prime investment destination. Galla's remarks coincided with Amara Raja's groundbreaking ceremony for a Customer Qualification Plant and the inaugural phase of their 1.5 GWh battery pack plant in Mahabubnagar district.
Under a Memorandum of Understanding with the previous government, Amara Raja committed to investing 9,500 crore over a decade to establish a research and development and manufacturing facility for Lithium-Ion batteries in Telangana. Galla hopes the current administration will honor these promises despite financial uncertainties.
(With inputs from agencies.)
ALSO READ
ByteDance Seeks Record $9.5 Billion Loan for Expansion
Identical Brains Studios Plans IPO to Fund Expansion and Technological Enhancements
Uttarakhand Approves 8.2 km Canal Covering for Road Expansion in Nainital
Brigade Enterprises to Raise Rs 1,500 Crore for Expansion
Indio Networks and Edgecore Wi-Fi Form Strategic Alliance for OpenWiFi Expansion