Telangana’s dream of emerging as India’s Fab Hub is finally set to become a reality with Bengaluru-based Rajesh Exports all set to invest Rs 24,000 crore in setting up India’s first fab for manufacturing advanced AMOLED displays in Telangana. To be set up by gold processor and jewellery exporter Rajesh Exports’ subsidiary Elest Private Ltd, it will make sixth generation AMOLED displays for global manufacturers of TVs, smartphones, tablets and computers. Elest will also be setting up an R&D centre for researching the next generation areas of advanced display technology. It is expected to come up on 50 acres at Dundigal in Medhchal-Malkajgiri district and will generate around 3,000 direct jobs, state officials said.
They will start construction of the factory building towards the end of the year,” a top official said. Tweeting, IT minister KTR said: “Historic day for Telangana. Rajesh Exports (Elest), a Fortune500 company, to set up India’s first Display FAB to manufacture the most advanced AMOLED displays, with an investment of ₹ 24,000cr, making it one of the largest investments in the high-tech manufacturing sector in India.” KTR said with this project Telangana would also put India on the global advanced high-tech manufacturing map at par with select countries like China, US, Japan, Korea and Taiwan. “What was hitherto possible only in Japan, Korea & Taiwan, will now happen in Telangana. To create largescale ecosystem of partners & ancillaries, supplying to world class TV, smartphone & tablet makers,” he tweeted. Rajesh Exports founder chairman Rajesh Mehta said the project would attract some of the finest global talent in nextgen technology and generate direct job opportunities for over 3,000 people. “It would create a much larger ecosystem of partners, ancillaries, suppliers, generating thousands of jobs. Elest is confident that the setting up of the Gen6 AMOLED Display manufacturing facility will generate a global interest and would ensure future technology growth in our country,” Mehta added. Tamil Nadu and Karnataka too were learnt to have been in the race for the project. A memorandum of understanding for the project was inked in Bengaluru on Sunday by Telangana principal secretary for IT &industries, Jayesh Ranjan, and Rajesh Exports top boss.
The Elest project is a big breakthrough for Telangana, which has been laying the groundwork for creating a vibrant semiconductor ecosystem. As part of this, the state has also set up a Photonics Valley Corporation that has been working to bag projects under the India Semiconductor Mission.
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