India, May 26 -- South Korean auto major Hyundai Motor Company has received approval from the government of Telangana to set up a new R&D Centre in the state.
The Korean major is expected to invest about INR 85.28 billion towards the 675-acre facility, which will include an R&D hub, an automotive test track, a pilot line and prototyping systems. It is expected to generate over 4,276 jobs in the region.
The approval was given by the Industrial Sub Committee in a meeting today, which saw chaired by theDeputy Chief Minister Bhatti Vikramarka Mallu with Key Ministers Sridhar Babu Duddilla and Srinivasa Reddy Ponguleti in attendance.
"Industries that create employment and boost revenue must remain in Telangana," said Deputy CM.
The new fa...
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