HYDERABAD: Chief Minister A Revanth Reddy on Monday conducted a comprehensive review meeting with officials to assess the progress of the revival efforts for the Kamlapuram pulp mill operated by Ballapur Industries Limited (BILT).
The new government has made revitalising struggling industrial units, such as the BILT mill in Mulugu district, a top priority to stimulate economic activity and generate local employment. During the meeting, the chief minister spoke to Hardik Patel, managing director of Finquest Financial Solutions Pvt Ltd, the entity entrusted with BILT assets in the state per the National Company Law Appellate Tribunal (NCLAT) order. Finquest is currently in the process of divesting these assets to potential investors.
Revanth conveyed the government’s earnest desire to facilitate the factory’s revival and urged the Finquest team to expedite the process.
Discussions with ITC
Further discussions were held with Vadiraj Kulkarni, CEO of ITC, PSPD (Paperboards and Specialty Papers Division), regarding the company’s ongoing projects in Telangana and its prospective expansion plans. ITC is presently engaged in negotiations with Finquest for the acquisition of BILT assets. Assuring unwavering support, the chief minister pledged to assist ITC in the revival of the BILT factory in Kamlapurum.
The meeting was attended by ministers D Anasuya and Konda Surekha, Chief Secretary Santhi Kumari and other officials. The Kamlapuram mill in Mulugu district, a mill producing rayon-grade pulp for the Viscose Staple Fibre (VSF) industry, commenced commercial production in September 1981. Operated by BILT, the unit faced financial distress and ceased operations in 2014, impacting the livelihoods of workers and families and numerous indirect dependents. Previous attempts to revive the unit by the government in 2015 and 2018 were unsuccessful. The matter was subsequently referred to NCLAT, which appointed Finquest Financial Solutions Pvt Ltd as the Interim Resolution Professional in 2020.
Coca-Cola team meets CM
A senior-level delegation from Hindustan Coca-Cola Beverages (HCCB), led by Himanshu Priyadarshi, chief of the firm’s public affairs, communications and sustainability (PACS) sector, met Chief Minister A Revanth Reddy. The delegation told the chief minister that HCCB’s cumulative investment — including the ongoing greenfield project in Bandatimmapur of Siddipet district— in the state exceeded Rs 3,000 crore. Among other commitments, the HCCB delegation assured Revanth of their dedication to contribute to the development of the region. The chief minister reciprocated by assuring the HCCB team of governmental support and cooperation in ensuring an environment conducive to business operations.
OVER RS 3K CR INVESTED IN TS ALREADY: HCCB TO CM
The Hindustan Coca-Cola Beverages (HCCB) delegation told Chief Minister A Revanth Reddy that the company’s cumulative investment — including the ongoing greenfield project in Bandatimmapur of Siddipet district— in the state of Telangana has exceeded Rs 3,000 crore