The Telangana Industrial Infrastructure Corpor-ation is in the process of establishing a Foundry Cluster Park. Spread over 170 acres, it will come up in Nawabpet village of Shivampet mandal in Medak district.
"The land alienation proposals are in an advanced stage and I am confident that this Foundry Park will become functional within this year," Telangana industrial department principal secretary, Pradeep Chandra, said here.
Addressing Sourecon-2014, the regional conference of foundrymen in south India, Chandra, however, asked the foundrymen to think of setting up a common sand processing unit that collects, reconditions and resells used foundry sand.
M Prabhakar and V Anand Reddy of Bhagyanagar Foundries Association, under whose aegis the park would come up, said it would house 50 units, whose combined investment would be to the tune of Rs 300 crore.
Chairman of southern region of The Institute of Indian Foundrymen, V Ramaswamy, said India had about 600 foundries, of which 80 per cent was in the SME sector.
