In the presence of Telangana Minister KT Rama Rao, Singireddy Niranjan Reddy, and Gangula Kamalakar, the Government of Telangana has entered into separate MoUs with Gloster Ltd, MBG Commodities Pvt Ltd, and Kaleshwaram Agro Pvt Ltd in Hyderabad today. The three companies have come forward to set up jute mills in Telangana with a cumulative investment of Rs 887 Crores. The proposed jute mills will provide direct employment to about 10,400 people.
Gloster Limited will invest about Rs 330 crore to set up a jute mill in Warangal District. The investment will create 3,400 direct employment opportunities in the region.
MBG Commodities will invest about Rs 254 Crore and will set up a modern integrated jute mill in Sircilla District. The investment will generate approximately 3,400 direct employment opportunities in the region.
Kaleshwaram Agro Pvt Ltd., will invest about Rs 303 Crore and will set up a modern integrated jute mill in Kamareddy District. The investment will generate approximately 3,600 direct employment opportunities in the region.
Speaking on the occasion, IT and Industries Minister KTR stated that Telangana is making efforts to revolutionize the agriculture sector through optimum utilization of resources from the Godavari and the Krishna rivers and local water bodies as well.
He also added that there is a need to be self-sufficient in jute production as the demand has been rising on the back of increasing agricultural produce and procurement in the State.
Minister KTR stressed the need for farmers to look at alternate crops as well for sustainable profitability. More jute mills are likely to come up in other districts as well given the focus that Telangana State is placing on food processing. He assured support to companies coming forward to set up jute industries in the State.
Agriculture Minister S Niranjan Reddy said Chief Minister K Chandrashekhar Rao has been placing special focus on the jute industry as the agricultural produce is increasing. He said the State will encourage farmers to take up jute cultivation to meet the requirements of the jute mills. He added that Jute can also be a sustainable alternative to plastic.
Civil Supplies Minister Gangula Kamalakar said demand for gunny bags in the State has been on the rise. “The State has been sourcing these bags from West Bengal and Chhattisgarh. With new jute mills coming up in the State, it would be in a position to save on these costs,” said Minister Gangula Kamalakar.
Here are the details of the investment and direct employment:
Investment - 330 Cr
Direct Employment - 3348
MBG COMMODITIES PVT LTD:
Investment - 254 Cr
Direct Employment - 3400
Kaleshwaram Agro Pvt Ltd:
Investment - 303 Cr
Direct Employment - 3600