Defence equipment maker Vem Technologies will be investing ₹1,000 crore in the first phase of a production facility it is setting up at the National Investment and Manufacturing Zone (NIMZ) in Zaheerabad, Telangana.
“Their integrated production centre will be ready for trial run by next December. The upcoming facility would provide employment to about 1,000 people,” Industries and IT Minister D.Sridhar Babu said after the leadership team of the company met him at the Secretariat on Thursday.
Vem Technologies is setting up the project on 511 acres. A part of Sangareddy district, Zaheerabad is home to several industrial units and about 100 km from Hyderabad on the Mumbai Highway.
The Minister urged District Administration to expedite resolution of issues related to acquisition of 43 acres for the project. He also instructed officials of a power utility to complete work within four months on the 33 KV power line needed for the company to get into production.
Mr. Sridhar Babu’s office stated in a release that the Minister suggested suitable changes to the road plan as well as diverting old power lines, optic fiber cables and rural fresh water supply lines for the project. Vem Technologies Chairman and Managing Director V. Venkata Raju, senior executives of the company met the Minister. Senior government officials concerned were present.
The Hyderabad-based company had in October 2021, as part of plans to scale up its defence manufacturing capacity, had entered into an MoU with Telangana government for the integrated defence facility at Yelgoi near Zaheerabad in Sangareddy.
Mr. Raju had then announced that the new plant will come up over the next five years and manufacture next generation weapon systems, including missiles, radars, seekers, engines, avionics, fighter planes and helicopters while employing close to 2,000 persons.
