The Telangana Rashtra Samithi (TRS) Government signed a Memorandum of Understanding (MoU) with Karnataka-based Elest company.  

Incorporated by promoters of Rajesh Exports, the company, Elest manufactures innovative technology products like AMOLED displays, Lithium-ion cells, batteries, and Electric Vehicles.

According to sources, the MoU has been signed for setting up India’s first Display FAB in Hyderabad, the Capital City of Telangana.  The establishment would be with an investment of Rs. 24,000 crores. 

As per the signed MoU, the Display FAB would be set up in technological association and with technical inputs from some of the most advanced and finest research centers in the world.

Mr. K.T. Rama Rao, the Industries Minister of Telangana, along with Mr. Rajesh Mehta, the Chairman of Elest, addressed the media.  During the media interaction, the duo announced the setting up of Generation 6 AMOLED Display FAB in Hyderabad.  

As per sources, the AMOLED Display Fab would manufacture next-generation displays for smartphones, tablet computers, and laptops. 

Mr. K.T. Rama Rao said, “Having a Display FAB in Telangana would put India on a global map at par with select few countries such as China, the United States of America (U.S.A.,) and Japan.”  He furthermore took to Twitter and said, “Historic day for Telangana. Rajesh Exports (Elest), a Fortune-500 company, to set up India’s first Display FAB to manufacture the most advanced AMOLED displays, with an investment of Rs 24,000 crore, making it one of the largest investments in the high-tech manufacturing sector in India.”

Furthermore, in terms of investment, it will be the largest in Telangana in the electronics sector.  In addition, the Display Fab would also generate huge employment of about 3,000 people in Telugu State. 

Meanwhile, Elest would also be setting up a Research and Development center for research in the next-generation areas of advanced display technology.

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