On It’s 5th Day, Telangana Govt. Gets 300 Cr Investment For Medchal Factory

In what could be the first investment flow into the five-day-old Telangana State, the US-based Wing Enterprises has decided to invest about Rs. 300 crore near Medchal here to set up a ladder-manufacturing company.
The investment in manufacturing (furniture) sector is likely to create direct employment potential of about 1,000 jobs in the first year itself. Representatives of the US-based firm engaged in the production of “Little Giant Ladder” Systems called on Minister for IT, Industries and Panchayat Raj K.T. Rama Rao at his office here on Friday and explained to him their plans.

The company manufactures different types of ladders and equipment like air-deck work stations, cargo-hold products and fuel tank paint trays. “The establishment of the manufacturing facility by the US firm is a pointer to the flow of investments into Hyderabad in other sectors and not just IT”, the minister said.

Source: The Hindu