Aries Group keen to invest $125 mn in Telangana unit

HYDERABAD: Dubai-based Aries Group of companies today expressed interest in launching "world's first of its kind glass-free mobiles, tablets and televisions" unit in Telangana with an initial investment of $125 million.

The company's top executives met Telangana Chief Minister K Chandrasekhar Rao and requested for approval and allotment of land for the proposed unit, a state government release said.

Rao told them to apply online in accordance with the provisions of Ts IPASS (state industrial policy) and within 15 days necessary approval will be given, it said.

"Aries representatives told CM that they have already produced this type of televisions in Korea and tablets and mobiles in China and they are first launching these products in Telangana sometime during August-September 2016," it said.

Meanwhile, Rao in response to a request from Sohan Roy, Founder Director, Indywood Film Carnival, to be held in Ramoji Film City, here from September 24-27 agreed to be the chief patron of the event, it said.

"Indywood Film Carnival aims to promote Indian Cinema and tourism globally and thereby benefiting Indian Film Industry both financially and qualitatively and would be organised by All Lights Film Society and co-hosted by Ramoji Film City," the release added.