HYDERABAD: Investments to the tune of `1,250 crore are set to flow into food processing sector in Telangana, with the state government entering into an agreement with several companies involved in the food industry on Saturday at the World Food India 2017 summit held in Delhi.
According to the government, the companies that have committed to invest in the state include Prayagh Nutri Products, Annapurna Agriculture Private Limited, Bluecraft Agro Pvt. Ltd, Bikanerwala, Nutrimmense Foods and Supplements, Creamline Dairy and others. All of these have entered into Memorandums of Understanding (MoU) with the government.
According to Telangana's Industries Ministry officials, while Prayagh Nutri Products will setup a unit at Shadnagar near Hyderabad with an investment of `55 crore, Nutrimmense Foods and Supplements will set up a milk processing unit. Other projects include the snack brand Bikanerwala, which will set up a food processing unit in Medak and Annapurna Agriculture Private Limited, which will invest more than `200 crore. 3,800 new jobs and indirect employment to the tune of 20,000 people are estimated to be created through these MOUs. Telangana also announced the Telangana Food Processing Policy on the sidelines of World Food India 2017 event.
“Telangana has a strategical advantage in agri food processing sector due its location. Several companies expressed interest to invest in state during World Food India summit and the newly unveiled food processing policy will further make it an attractive destination. We are aiming to attract `20,000 crore investments and create 1.25 lakh jobs in agri-food processing sector in the state over the next five years,” said Telangana Industries Minister KT Rama Rao.