As per the memorandum of understanding (MoU), the company will be investing Rs 1,500 crore in setting up the manufacturing facility
Lenskart, an eyewear major, has signed a memorandum of understanding (MoU) with the Telangana government to set up the world’s largest eyewear manufacturing unit in the state. As per the MoU, the company will be investing Rs 1,500 crore in setting up the manufacturing facility.
The MoU was signed in the presence of Telangana Industries and Commerce and Information Technology (IT) Minister Duddilla Sridhar Babu. The Minister took to X (formerly Twitter) and shared details regarding the same.
He wrote, “Very delighted to announce the signing of a MOU with Lenskart today wherein Lenskart would be setting up the world’s largest eyewear manufacturing facility in Telangana with an investment of around Rs 1500 crore. The facility will produce eyewear, lenses and sunglasses, as well as accessories and other products catering to India, along with exports to other markets in Southeast Asia and the Middle East.”
As far as the location of the manufacturing facility is concerned, the Minister added that it will be established at Fab City, where the land has already been identified and will be handed over to the company this week.
Adding to the development, the Minister also stated that there is a ‘purported discussion’ around another plant being established in the state. “The plant will create around 2,100 jobs and there is a purported discussion around a research and development (R&D) plant being set up. This is a testament to our policy that ensures speed and ease of business for companies,” as per the post by the Minister.
As per the media reports, the plant is part of four MoUs amounting to Rs 7,600 crore signed on Sunday, with the potential to generate approximately 5,200 new jobs.
