ITC has proposed to invest Rs 8,000 crore in Telangana as part of its expansion of existing units, together with fresh investments. The company’s plans include expansion of its paper plant capacity, setting up of a world-class food processing facility at Medak for over Rs 800 crore and a hotel with an investment of Rs 1,000 crore in Hyderabad.

Announcing the plans during the launch of Telangana government’s new industrial policy, ITC chairman YC Deveshwar said the group is committed to Telangana and has two major divisions in the state, which include the paperboard and agribusiness division of its total 13 businesses.

“We will continue investments in the state,” Deveshwar said, adding that there is a proposal to double the paper mill capacity to 1 million tonne, besides taking up other social forestry programmes. The paperboard plant at Bhadrachalam in Khammam district is the largest in the country with a capacity of 5 lakh tonne, although lower in scale compared to China wherein one machine produces 1 million tonne. Total plantations, as on March 31, 2014, stood at over 1,63,000 hectare, which is likely to go up to 2 lakh hectare.

Lauding the industrial policy of the state, Deveshwar said the company is planning to build another ITC Grand hotel in Hyderabad with an investment of Rs.1,000 crore. The proposed hotel would be eco-friendly and LEED-certified for green initiatives. Also, it has decided to set up a world-class food processing centre at Medak with an investment of Rs 800 crore. This would facilitate processing activities, reduce wastage and bring down food inflation.

He said the new policy framework intends to provide a hastle-free business regulatory environment and the vision for industrialisation for Telangana — “research to innovation, innovation to industry and industry to prosperity” — is a move in the right direction.

Meanwhile, the Ruia Group has also expressed interest in setting up a railway manufacturing facility, in association with a leading European Union company, in Telangana. The company will chalk out a smart city project near the Financial District in Hyderabad. Ruia group chairman Pawan Kumar Ruia said the company plans to invest Rs 400-500 crore for the proposed facility and is talks with the Telangana government for land allotment.

State of business

Lauding the industrial policy of the state, Deveshwar said the company was planning to build another ITC Grand hotel in Hyderabad for an investment of Rs 1,000 crore.

ITC has also decided to set up a food processing centre at Medak for Rs 800 crore.

Deveshwar said the new policy framework intends to provide a hastle-free business regulatory environment and the vision for industrialisation for Telangana.

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