Hyderabad, Dec 14 (KNN) Japanese company DAIFUKU’s Indian arm will set up a manufacturing unit at Chandanavelli, Hyderabad proposing investments worth Rs 450 crore.

It is likely to employ more than 800 people and has signed an agreement in the presence of the state IT and Industries Minister KTR.

The company manufactures equipment such as automated storage systems, conveyors and automatic starters. It will set up a state-of-the-art industry with an area of more than 2 lakh square feet.

It has planned for investment of Rs 200 crore for the first phase expansion and to start the new industry in the next 18 months.

Speaking on this occasion, Minister KTR said that he is happy to see large scale investments after the covid-19pandemic.

“Many manufacturing units are investing in Hyderabad and Japan is moving forward using excellent technology,” KTR said adding that they have brought the biggest industrial park in Dandu Mylaram.

The company will speed up the manufacturing of their products in India, confirmed the company's managing director Srinivas Garimella.  (KNN Bureau)