Hyderabad, Jun 28 (PTI) Telangana's homegrown company Resojet Pvt Ltd has entered into a Memorandum of Understanding with TCL Electronics Holding Limited for forging a Joint Venture towards setting up a state-of-the-art consumer electronics manufacturing facility in the state.

An official release on Wednesday said the MOU was signed in the virtual presence of Minister for Industries K T Rama Rao.

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TCL is one of the largest consumer electronics manufacturing companies in the world based out of Hefei, China. The proposed facility in Telangana would be TCL's first overseas facility for manufacturing of washing machines, and would further expand to manufacturing of other consumer appliances, including refrigerators and dishwashers, it said.

The upcoming Resojet facility will be set up in E-City, Raviryal, near here and would entail an investment of Rs 225 crore with employment generation potential of over 500 people in Phase 1, it said.

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Speaking on the occasion, Minister KTR said, "Telangana is proud to witness yet another milestone for our homegrown company Resojet as they further expand their operations in the State. We are delighted to welcome TCL to Telangana. This investment is a testament to the State's efforts towards creating a conducive ecosystem for high technology manufacturing and reinforces Telangana's position as a frontrunner in electronics manufacturing in India.'

KTR took the opportunity to share his vision for transforming Hyderabad as the Shenzhen of India and invited CEO of TCL Group Juan Du and the TCL team to visit Telangana and witness the enabling infrastructure and ecosystem in the State.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)