ITC vows to invest Rs 8,000 crore in Telangana
Infrastructural giant GMR has also come forward to make significant investments
Hyderabad: The ITC Group has pledged Rs 8,000 crore investment in Telangana state in the paper, food processing and hotel industries.
Announcing this at the launch of the Telangana Industrial Policy here on Friday, chairman of ITC Group Y.C. Deveshwar said that a world class food processing unit, with an investment of Rs 1,800 crore, would be set up in TS.
“We have one of India’s best paper producing plants at Bhadrachalam and we want to expand its capacity, which needs around Rs 4,500 crore investment. We will also construct a Green Hotel — on the lines of ITC Kakatiya — with Rs 1,000-crore investment at Cyber City,” he said, adding, “The CM has promised the fastest ever clearance and we would like to compete with him. We will bring the food unit as early as possible.”
Infrastructural giant GMR has also come forward to make significant investments and has promised to make Hyderabad an Aero Hub.
“We have plans to develop a smart airport city here. We have readied a plan to construct the best convention centre. We will also set up a Aerospace Training Centre,” said G. Mallikarjuna Rao, chairman of GMR Group.
Krish Iyer, CEO of Walmart India, announced setting up of wholesale cash and carry outlets in every big city of Telangana along with Hyderabad.
“We look forward to a great partnership here. We will provide employment to women and farmers of Telangana,” he said.
Rajesh Agarwal, CEO of Micromax mobiles, also offered to expand business in the state. Chairman of Ruia Group, Pavan K. Ruia, will also explore areas of investments.