HYDERABAD: stock manufacturer has entered into a joint venture with Hyderabad-based for setting up a railway coach manufacturing facility in .The joint venture, in which Stadler Rail will hold majority stake, will invest over Rs 1,000 crore over two years in setting up the facility that is expected to create over 2,500 jobs.The new JV facility is slated to come up on Hyderabad?outskirts next to Medha Servo?existing rail coach factory, which was set up with an investment of Rs 1,000 crore at Kondakal village in Shankarpally of Rangareddy district.The JV will use the proposed Telangana unit not just as a primary manufacturing site to cater to tenders from the Indian market, but also for customers across the Asia Pacific region (APAC), the Telangana government said on Wednesday.The announcement was made in the presence of industries minister KT Rama Rao and Stadler Rail executive vice-president for sales & marketing, Ansgard Brockmeyer, at the World Economic Forum at Davos on Wednesday. Commenting on the development, KTR said: “I am extremely delighted that Stadler chose Hyderabad as their primary location for rail coach manufacturing for the complete APAC region in partnership with Medha Servo. This will show Hyderabad’s potential to match global investment destinations in quality of talent and output.”Stadler Rail’s EVP Ansgard Brockmeyer, said: “This unit will be one of the most important centres for us as we plan to scale up activities in India and the APAC region. We are very happy with the support provided by the government and look forward to more business in the region.”In January 2021, bagged Rs 2,211 crore order from the Indian Railways for design, development, manufacture, supply, integration, testing and commissioning of various equipment for Vande Bharat ACB manufacture train sets ACB manufacture for ACB manufacture 44 rakes of 16 cars each.