Korean Automobile Major Hyundai’s Global Innovation R&D Centre at NIMZ, Zaheerabad
Telangana government’s Industrial Promotion Sub-Committee has approved the 8,528 crore project by Hyundai that will span 675 acres and generate over 4,200 jobs for local youth.
Following Telangana Chief Minister A. Revanth Reddy’s announcement, the State government board responsible for industrial promotion has granted official clearance for Korean auto major Hyundai’s plan to establish a Global Innovation Research and Development Centre at the National Investment and Manufacturing Zone (NIMZ) in Zaheerabad, Telangana. Hyundai will invest 8,528 crore in the project, which will be spread across 675 acres. Key features of the center will include an automobile test track, pilot line, and prototyping systems. Representatives of the company informed the Industrial Promotion Sub-Committee during a meeting in Hyderabad on Sunday, May 25, 2025, where the project was approved.
The R&D facility is expected to create employment opportunities for 4,276 local youths. The sub-committee meeting was chaired by Deputy Chief Minister Bhatti Vikramarka Mallu and attended by IT and Industries Minister D. Sridhar Babu, Revenue Minister Ponguleti Srinivas Reddy, and other senior officials. The Deputy Chief Minister emphasized the importance of retaining industries that offer significant job prospects and revenue for the state. He urged officials to prioritize proposals that could attract supplementary industries and work towards the swift implementation of projects.
Industrial and Investment Promotion Meetings
Deputy Chief Minister Bhatti announced that Industrial and Investment Promotion meetings will now take place every Saturday. The sub-committee advised officials to focus on proposals that can create substantial employment opportunities for the youth and boost state revenue through the development of ancillary industries. Discussions during the meeting included industrial promotion strategies, progress reports on existing projects, and proposals for new units.
IT and Industries Minister Sridhar Babu highlighted that ongoing industrial projects are poised to provide significant employment and revenue in the coming years. Notable attendees at the meeting included Industries Principal Secretary Sanjay Kumar, Special Secretary to Chief Minister Ajit Reddy, TSIIC MD Vishnuvardhan Reddy, Director of Industries G. Malsur, Commercial Taxes Commissioner Haritha, Deputy Chief Minister’s Special Secretary, and TRANSCO CMD Krishna Bhaskar.
Published – May 26, 2025 05:42 pm IST
