Latest News | BL Agro to Invest Rs 500 Cr in Telangana to Set Up Manufacturing Plant
Get latest articles and stories on Latest News at LatestLY. BL Agro plans to invest Rs 500 crore in Telangana and has signed an initial pact with the state government to set up a manufacturing plant to make various food products.
New Delhi, Jan 18 (PTI) BL Agro plans to invest Rs 500 crore in Telangana and has signed an initial pact with the state government to set up a manufacturing plant to make various food products.
The company said in a statement that it has signed a memorandum of understanding (MoU) with Telangana Chief Minister Anumula Revanth Reddy to set up a manufacturing unit in the state.
The MoU was signed recently at the World Economic Forum at Davos, Switzerland.
"Under the MoU, the company plans to invest Rs 500 crores in Telangana and employ 5,000 people," BL Agro said.
The new manufacturing unit will be engaged in producing the entire range of brand Nourish products -- wheat flour, pasta, vermicelli, spices, papad, etc, along with rice bran and cottonseed oils.
"It is a moment of pride for us as a Group company to sign an MoU with the Telangana government and expand our footprints in the Southern part of the country," Ashish Khandelwal, Managing Director, BL Agro said.
As per the guidelines laid in the MoU, BL Agro, along with its group company, Leads Connect agritech, plans to create an agri value chain in the state under its initiative 'Khet Se Kitchen Tak', which supports the farmers' community and agribusinesses, and help improve productivity and sustainability in the agriculture sector.
Based in Bareilly, Uttar Pradesh, BL Agro Industries Ltd is into branded edible oil and other food products players in India.
(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)