ITC mulls food park in Medak district
With an investment of Rs 774 crore, a food processing industry will be setting up by Multi-business Corporation ITC Limited in Medak district.
With an investment of Rs 774 crore, a food processing industry will be setting up by Multi-business Corporation ITC Limited in Medak district. The permit papers have been received by ITC director Chittaranjan Dar and ITC Telangana head Sanjay Singh from Chief Minister K. Chandrasekhar Rao on Tuesday.
With ITC promising to invest Rs 8,000 crore in Telangana, Minister for industries, Jupally Krishna Rao informed that the food processing unit is the first. 16 other companies have also received permit letters from the Chief Minister to set up or expand their units in the state garnering the total investment component of Rs 1,501 crore and providing employment to 3,317 people.
Mr Krishna Rao informed that many industries such as GSK Glaxo Smithkline, Pfizer, Merck are keen to establish industries in the state with Glaxo and Pfizer intending to set up their units in pharmaceutical sector in the city. Also, a giant in musculoskeletal health care – Zimmer is interested to set up a research and development wing as well as manufacturing units in medical devices park which will be the first medical devices unit in India.
After the grand launch of TS-iPASS, the state’s industrial policy, KCR said that the permit letters which used to take six months for the permission of the Pollution Control Board were given in just 10 days time to set up the units. The Chief Minister also added that as the policy has been liberalized by bringing in single-window system – water, power and land would be provided free of cost depending upon the unit.