ITC to invest Rs 8,000-cr in Telangana

ITC to invest  Rs 8,000-cr  in Telangana

 ITC will be investing Rs 8,000 crore in Telangana. Announcing this at the unveiling  of the new industrial policy of the Telangana government, ITC Chairman Y C Deveshwar has said that a part of this investment would go for the expansion of existing paperboard manufacturing unit in Bhadrachalam of Khammam district.

“We will be setting up a one million tonne capacity machine there, and assure the Telangana government that we will provide nine million man-hours of employment to the local people,” he announced.

ITC will also be setting up a world class food processing unit in Medak district at  a cost of Rs 800 crore. ITC, which has a platinum class hotel here, will be setting up another star hotel in Cyber city (IT hub) with an investment of Rs 1,000 crore.

Chief Minister K Chandrasekhar Rao has assured the ITC chief that all necessary clearances will be given within two weeks if ITC applies for permission online.

According to ITC, the Bhadrachalam Paper Board plant has a production capacity of 405,000 TPA of paperboard and 140,000 TPA of paper.

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