Hyderabad: Deputy Chief Minister Bhatti Vikramarka said that several multinational companies across the world are keen to make large-scale investments in Telangana. These investments will not only create employment opportunities for youth but also benefit the agriculture sector through subsidies and incentives.
Bhatti Vikramarka chaired the Cabinet Sub-Committee meeting on industrial development, which was attended by Ministers Sridhar Babu, P. Srinivas Reddy, and senior officials. During the meeting, a report was presented on the facilities being provided by the government to attract investments in the state.
He informed that the committee has approved the establishment of theJSW UAV private company in Maheshwaram. In addition, Toshiba Transmission and Distribution Systems will set up a Gas Insulated Switchgear plant, while Coca-Cola India has also agreed to invest on a large scale in Telangana.
According to the Deputy Chief Minister, three major companies have decided to invest Rs.3,745 crore, which will generate 1,518 jobs for the youth.
Coca-Cola will invest Rs.2,398 crore, creating 600 new jobs.
JSW Company will invest Rs.785 crore, generating 364 jobs.
Toshiba will invest Rs.562 crore, providing employment to 554 youth.
Bhatti Vikramarka added that Coca-Cola’s investment will directly benefit mango and orange farmers, as well as boost the horticulture sector.
The Cabinet Sub-Committee also reviewed the terms of the Memorandums of Understanding (MoUs) for new investments. He further said that leading companies from Davos and other countries have also announced plans to invest in Telangana.
The meeting was attended by Chief Secretary K. Ramakrishna Rao, Special Chief Secretary Sanjay Kumar, Principal Secretary (Commercial Taxes) Syed Ali Murtaza Rizvi, Principal Secretary (Finance) Sandeep Kumar Sultania, Principal Secretary (Energy) Naveen Mittal, Director of Industries Nikhil Chakravarthy, Commissioner of Commercial Taxes, and other senior officials.
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