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India's first Display FAB coming up in Telangana
IT Minister K T Rama Rao and Rajesh Exports Chairman Rajesh Mehta witness the signing of an MoU on the mega facility
Elest to invest `24K cr to manufacture AMOLED displays, lithium-ion cells
Hyderabad: The Telangana government on Sunday signed an MoU with Karnataka-based Elest for setting up India's first Display FAB with an investment of Rs 24,000 crore.
Elest has been incorporated by the promoters of Rajesh Exports, a Global Fortune 500 company, specifically for the purpose of manufacturing innovative technology products such as AMOLED displays, lithium-ion cells, batteries, and EVs.
The Display FAB will be set up in technological association and with technology inputs from some of the most advanced and finest research centres across the world.
Industries Minister KT Rama Rao along with Rajesh Mehta, chairman of the company, announced setting up of Generation 6 AMOLED Display FAB. The proposed Fab would manufacture next generation displays for smartphones, tablet computers, and laptops.
The minister said, "Having a Display FAB in Telangana would put India on a global map at par with select few countries such as China, USA, and Japan.
In terms of investment it will be the largest in Telangana in electronics sector, KTR said. It will also generate huge employment of about 3000 people.
Elest would also be setting up a Research and Development centre for research in the next generation areas of advanced display technology.
