Cabinet Sub-Committee Approves Three Companies With An Investment Of Rs. 3,745 Crore
The Industrial Promotion Cabinet Sub-Committee met at Dr. B. R. Ambedkar Secretariat were chaired by Deputy Chief Minister Mallu Bhatti Vikramarka . Ministers and committee members Duddilla Sridhar Babu and Ponguleti Srinivas Reddy participated.
Multinational companies are flocking to the state to invest on a large scale, creating employment for youth and giving incentives to farmers cultivating various fruits. They are showing great interest in investing in Telangana.
On this occasion, the Deputy CM announced that the committee had given approval to JSW UAV Limited for starting a new unit at Maheshwaram, to Toshiba Transmission and Distribution System for setting up a Gas Insulated Switchgear and Bushings plant, and to Hindustan Coca-Cola Beverages Company. Through the establishment of these three major companies in the state, an investment of ₹3,745 crore and employment for 1,518 youth will be generated, the ministers’ team stated.
Officials briefed the ministers that the Coca-Cola Beverages plant, being set up with about ₹2,398 crore, would provide jobs to 600 people; the JSW company, with an investment of ₹785 crore, would create employment for 364 people; and the Toshiba company, with an investment of ₹562 crore, would create employment for 554 people.
Deputy CM Bhatti Vikramarka Mallu said that the establishment of companies like Coca-Cola would provide large-scale encouragement to mango and orange farmers in the state. With the setting up of beverage industries, horticultural crops would be required in large quantities by these companies, thereby creating demand for mango, orange and other produce and bringing significant income to the state’s farmers.
The Cabinet Sub-Committee members also reviewed the MOUs and procedures with various companies from Davos and other countries that have expressed interest in investing in our state.
Chief Secretary Ramakrishna Rao, Special CS Sanjay Kumar, Principal Secretary of Commercial Taxes Rizvi, Principal Secretary of Finance Sandeep Kumar Sultania, Principal Secretary of Energy Naveen Mittal, Industries Director Nikhil Chakravarthy, Commercial Taxes Commissioner, Deputy CM’s Special Secretary Krishna Bhaskar and others attended the meeting.
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