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Hyderabad-based VEM Technologies, which is into aerospace and defence technologies, signed a memorandum of understanding (MoU) with the Telangana government on Sunday to set up an integrated defence systems facility at Yelgoi in Telangana.
The Yelgoi unit, first of its kind in the country and having the end to end infrastructure for assembly, integration and testing of the systems, will see an investment of around Rs 1,000 crore and might create around 2,000 jobs over the next five years.
The deal was signed between the company's Chairman and Managing Director V Venkata Raju and Jayesh Ranjan, principal secretary to the Government of Telangana, in the presence of KT Rama Rao, industries minister, Government of Telangana.
VEM is one of the largest production partners for Akash, LRSAM/MRSAM, Astra and BrahMos missile programmes supplying various systems and subsystems. VEM supplies "centre fuselages" to the country’s prestigious light combat aircraft, Tejas production programme.
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