Hyderabad, Dec 6 (TIWN) LiteAuto GmbH, a German company specialising in the production of components made of magnesium alloys for vehicles, will set up an advanced design and manufacturing facility in Telangana with an investment of Rs 1,500 crore.

Speaking on the occasion, minister KT Rama Rao said that the Telangana government welcomes the german firm to invest in the state. The government has provided 2,000 acres for setting up the industry, he added.  Meanwhile, the company Managing Director Balanand Jaladi said that Telangana was chosen due to its industry friendly policies and also presence of aerospace, defense and automotive ecosystems. It has been making magnesium components under a pilot in Telangana for some time now and they were being shipped to Germany for advanced research and development.