Hyderabad, June 14 (KNN) Rajesh Exports (Elest), a Fortune-500 company has agreed to invest Rs 24,000 crore to establish Display FAB to manufacture the most advanced AMOLED displays in Telangana.

It will be India’s first ever display plant. A MoU has been signed between the Telangana government and Rajesh Exports to help the state transform into an investment destination for semiconductors in India.

Calling it a historic day for the state, IT Minister KT Rama Rao said, “Rajesh Exports (Elest), a Fortune-500 company, to set up India’s first Display FAB to manufacture the most advanced AMOLED displays, with an investment of Rs 24,000 crore, making it one of the largest investments in the high-tech manufacturing sector in India.”

Commenting on the development Chairman of Rajesh Exports, Rajesh Mehta said, “The Display FAB in Telangana would attract some of the finest global talents in the next-generation technology and would generate a direct opportunity to more than 3,000 people including scientists and advanced technology professionals.”

It would create a much larger ecosystem of partners, ancillaries, suppliers, generating thousands of jobs, ensuring the future growth of technology in the country, he added.  (KNN Bureau)