The Industrial Promotion Cabinet Sub-Committee of Telangana has approved investments worth Rs 3,745 crore (US$449 million) from three multinational companies, expected to create 1,518 jobs.
Deputy Chief Minister Bhatti Vikramarka Mallu, who chaired the meeting at the Dr. B. R. Ambedkar Secretariat, said Telangana is attracting global investors due to its industrial policies and sector-specific incentives. "Multinational companies are flocking to the state to invest on a large scale, creating employment for youth and giving incentives to farmers cultivating various fruits," he said.
The committee approved three projects. Hindustan Coca-Cola Beverages Pvt Ltd will establish a large-scale plant in Siddipet district with an investment of Rs 2,398 crore (US$288 million), expected to create 600 jobs. The plant will boost demand for mangoes and oranges, providing direct benefits to local fruit farmers.
JSW UAV Limited will set up a drone manufacturing facility at Maheshwaram with an investment of Rs 785 crore (US$94 million), creating 364 jobs. Toshiba Transmission and Distribution Systems will launch a plant for Gas Insulated Switchgear and Bushings with a capital investment of Rs 562 crore (US$67 million), creating 554 jobs.
Officials informed the committee that Coca-Cola's entry will stimulate the horticulture sector by securing large-scale procurement of fruits from Telangana farmers. Deputy CM Bhatti said the investments will provide both employment opportunities and market linkage for growers of mangoes and oranges.
Cabinet Sub-Committee members, including Ministers Duddilla Sridhar Babu and Ponguleti Srinivas Reddy, also reviewed memoranda of understanding signed with global firms at the recent Davos Economic Forum. International companies have expressed interest in investing in various sectors in Telangana.
The meeting included Chief Secretary Ramakrishna Rao, Special Chief Secretary Sanjay Kumar, Finance Secretary Sandeep Kumar Sultania, Energy Secretary Naveen Mittal, and Industries Director Nikhil Chakravarthy.
Source: ANI News