German firm Liteauto to invest ₹1,500 crore in State
The Hindu
Magnesium components maker to set up advanced design, manufacturing facility
German firm Liteauto GmbH plans to invest ₹1,500 crore to set up an advanced design and manufacturing facility in Telangana.
On Monday, the Magnesium alloys automotive component maker and Telangana government signed a memorandum of understanding in the presence of Industries and IT Minister K.T. Rama Rao and German Ambassador Walter J. Lindner, at a German Investors’ Summit in the city.
Managing Director of Liteauto India Bala Anand Jeldi said the project is a part of the euro 600 million investment the German firm intends to make globally on creating capacities amid growing demand for the products.
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