Telangana Loses ₹2,800 Crore Semiconductor Project: KTR Levels Heavy Charges Against Congress Govt
BSR president K.T. Rama Rao objects to the Congress state government over incompetency and corruption in its failure to retain the 2,800 core Kaynes Technology semiconductor investment to Gujarat, mainly due to its lack of industry attention and investor confidence.
Hyderabad: BRS working president and former Industries Minister K.T. Rama Rao (KTR) has in a caustic attack blamed the loss of an important 2800 crore semiconductor project by Kaynes Technology, which is moving to Gujarat, on the Congress regime. Telangana youth were projected to benefit in forms of direct employment of about 2,000 to the project.
KTR regretted that the Congress government under Chief Minister Revanth Reddy did not protect investor confidence and did not even admit the project was quitting. That amounts to a betrayal of Telangana youth, he said.
He made a comparison of the performance of current government vis-a-vis the BRS regime wherein he indicated that in their term during the regime of the BRS government the then Kaynes Technology was quickly convinced to relocate its planned unit out of Karnataka to Telangana. In less than 10 days of their request, we provided a plot of land beside Foxconn in Kongara Kalan. This is the type of governance we had proposed,” KTR added.
Also Read: Telangana to Face Heavy Rains for 3 More Days, GHMC & SDRF on High Alert
KTR also blamed the current government of being incompetent, corrupt and losing the confidence of investors and said that Telangana was now moving into what he called, auto-destruct mode. In the meantime, he added, the reputation of the “Brand Hyderabad” and the “Brand Telangana” that was established painstakingly over a 10-year rule of the BRS was being torn apart by the current dispensation.
He also rebuked the Congress government for putting political loyalty above industrial development, charging that the state was becoming an ATM of the Congress high command in Delhi with commissions coming ahead of promises.
KTR has cautioned the exit of Kaynes Technology to be a lesson learnt as it warned that thousands of companies may soon join the list unless the government intervenes by taking necessary corrective measures.
