Hyderabad: On the first day of its visit to Japan, the Telangana govt delegation led by chief minister A Revanth Reddy secured Rs 1,000 crore investment from Marubeni Corporation, a leading Japanese industrial conglomerate in Tokyo.
The CM’s delegation is on a seven-day (April 16 to 22) tour of Japan to attract investments for Telangana.
Govt officials said Marubeni Corporation signed a letter of intent (LoI) with Telangana for establishing a state-of-the-art industrial park in ‘Future City’.
“With a proposed initial investment of Rs 1,000 crore, a world class, next-generation industrial park will be developed in phases on 600 acres in Future City. The industrial park will allow Japanese and other multinational firms to set up manufacturing plants in Hyderabad and attract major investments of over Rs 5,000 crore,” a govt official said.
The industrial park will focus on electronics, green pharma, precision engineering, aerospace and defence sectors, which are largely aligned with Telangana’s objective of attracting foreign investments in advanced manufacturing and creating skilled employment opportunities, officials said.
After signing the agreement, CM Revanth said, “The Marubeni industrial park will be among the first of its kind to be developed in the proposed ‘Future City’. It is expected to create 30,000 direct and indirect jobs, enriching livelihoods and enhancing the skill ecosystem in Telangana.”
Promising personal support to ensure Marubeni has a world-class experience in doing business in Telangana, the CM said, “We are delighted to have Marubeni as a marquee investor for ‘Future City’, which is being designed as India’s first net zero city. We welcome Marubeni to Hyderabad, and given the friendship of India and Japan, I am sure you will find yourself at home when you come to Telangana.”
Marubeni (Next Generation Business) COO Dai Sakakura said, “We are delighted after listening to CM Revanth Reddy’s vision for Telangana and Hyderabad, and wish to be amongst the earliest to explore possibilities there.”
Marubeni operates globally in 65 countries through over 410 group companies and deals in lifestyle, food and agriculture, metals and mines, energy and chemicals, power and infrastructure, finance leasing and real estate, aerospace and mobility, among others. It has over 50,000 employees globally.
The CM-led team later visited Sony Corporation headquarters in Tokyo on Thursday where they were shown several new initiatives. The delegation also held detailed discussions on animation with its subsidiary company Crunchyroll and explained the strengths of Hyderabad in animation, VFX, and gaming sectors. The CM outlined his vision for setting up a modern film city with the capability of end-to-end production.
