HYDERABAD: Adding a fresh feather to its cap, Telangana secured investments to the tune of Rs 887 crore in the jute sector. Three companies have come forward to set up jute mills in the State, which would provide direct employment to about 10,400 people.
The State government, on Friday, signed separate MoUs with Gloster Ltd, MBG Commodities Pvt Ltd and Kaleshwaram Agro Pvt Ltd. IT and Industries Minister KT Rama Rao, Agriculture Minister Singireddy Niranjan Reddy and Civil Supplies Minister Gangula Kamalakar were present at the ceremony.
While Gloster Ltd would invest about Rs 330 crore to set up a jute mill in Warangal, which is expected to create jobs for 3,400 people living in the region, MBG Commodities is set to invest Rs 254 crore to establish a modern integrated jute mill in Rajanna-Sircilla district.Kaleshwaram Agro Pvt Ltd., meanwhile, will make an investment of Rs 303 crore for a jute mill in Kamareddy district. The investment will generate approximately 3,600 jobs in the region.
Speaking on the occasion, Rama Rao said that Telangana was making efforts to revolutionise the agriculture sector through optimum utilisation of resources from the Godavari and Krishna rivers as well as the local water bodies. “There is a need to be self-sufficient in jute production as the demand has been rising in the backdrop of increasing agricultural produce and procurement in the State,” he said.
The Minister stressed the need for farmers to turn to alternative crops for sustainable profitability and said that jute mills were likely to come up in other districts as well. Rama Rao also assured support to the companies that have come forward to set up jute industries in the State.
Niranjan Reddy said that Chief Minister K Chandrasekhar Rao had special focus on the jute industry and that the State would encourage farmers to take up jute cultivation to meet the requirements of the mills.
Mills mooted in W’gal, K’reddy, Sircilla dists
While Gloster Ltd would invest about Rs 330 crore to set up a jute mill in Warangal, which is expected to create jobs for 3,400 people, MBG Commodities is set to invest Rs 254 crore to establish a modern integrated jute mill in Rajanna-Sircilla. Kaleshwaram Agro Pvt Ltd., meanwhile, will make an investment of Rs 303 crore for a jute mill in Kamareddy