Singapore-based PTW Group, which specialises in equipment supply for the semiconductor industry, is prepared to invest Rs 1,000 crore in its Telangana unit.

A delegation of the company’s Asia division led by managing director Torsten Seifried met IT & Industries Minister D Sridhar Babu at the Secretariat. 

The minister assured them that the state government was ready to provide incentives and subsidies under its policies to facilitate their set up in the region.

According to a release, the PTW Group specialises in tools, components, refurbishment, automation, and equipment supply for the semiconductor industry.

Sources said that the company will present a final proposal soon and will likely set up the facility in the upcoming Pharma City (Fourth City). 

The PTW Group had plans to establish the facility in China, the Philippines or Thailand but has now earmarked Hyderabad as their final destination.