Medha Servo Drives, a major propulsion equipment supplier to the railways, would be setting up a rail, metro coach factory with an estimated investment of Rs 800 crore, in Telangana.
An MoU to the effect was signed here today in the presence of state Industries Minister K T Rama Rao.
The factory would create more than 2,000 direct and indirect employment opportunities in the state, the release said.
Though Telangana was promised a rail coach factory as per the AP Reorganisation Act, it has not become a reality, the release quoted Rao as saying.
He expressed happiness with the factory taking shape now, it said.
About 100 acres of land has been allocated through TSIIC near here for the factory, the release added.
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