2,135 Crore Investment Moves From AP To Telangana

VEM Technologies, a private-sector defense manufacturing unit has come to set up a weapons integration facility in West Godavari district in 2018. The company has announced investing Rs 2,135 crore in phases starting with 1000 Crore in the facility and the then Government has decided to allocate 325 acres of land in Pedavegi Mandal of the district.

Since it was just before the elections, the investment is not grounded and after the elections, the entire scenario has changed. The government has changed and the government priorities have changed. With that, the company has changed its plan now and shifted the investment proposal to Telangana.

The company has signed an MOU with the Telangana government on Sunday to set up an integrated defense systems facility at Yelgoi, Zaheerabad, Sangareddy District, Telangana. The initial investment would be 1000 Crore in the next five years. The facility would be creating over 2,000 jobs.

The upcoming facility of the company will have the end-to-end infrastructure for assembly, integration, and testing of the integrated defense systems. Andhra Pradesh’s loss has become Telangana’s gain.