Three firms have expressed interest in establishing jute mills in Telangana, with a total investment of Rs. 887 crores.
The projected jute mills would directly employ 10,400 people.
Gloster Ltd, MBG Commodities Pvt Ltd, and Kaleshwaram Agro Pvt Ltd signed separate Memorandums of Understanding (MOUs) with the state government on Friday, in the presence of state ministers K.T.Rama Rao, Singireddy Niranjan Reddy, and Gangula Kamalakar.
Gloster Ltd would invest around Rs. 330 crores to establish a jute factory in the Warangal district.MBG Commodities will invest about Rs. 254 crores to set up a modern integrated jute mill in Rajanna Sircilla district. This will generate approximately 3,400 direct jobs.
Kaleshwaram Agro Pvt Ltd would invest Rs 303 crore to build a new integrated jute factory in Kamareddy district. The investment will create over 3,600 direct job opportunities in the region.
Telangana’s Industry and Information Technology Minister Rama Rao claimed that the state is working to revolutionise agriculture by maximising the use of resources from the Godavari and Krishna rivers, as well as local water bodies.
He further stated that there is a need to be self-sufficient in jute production because demand has been increasing due to increased agricultural yield and procurement in the state.
KTR emphasised the need of farmers considering other crops for long-term profitability. More jute mills are expected to open in other districts as well, given Telangana’s emphasis on food processing, he added, assuring firms interested in establishing jute industries in the state of his assistance.
Agriculture Minister Niranjan Reddy stated that as agricultural production increases, Chief Minister K. Chandrasekhar Rao has placed a special emphasis on the jute business. He stated that the state will encourage farmers to grow jute in order to satisfy the needs of jute mills. He also mentioned that jute might be a sustainable substitute to plastic.
According to Civil Supplies Minister Kamalakar, demand for gunny bags in the state is on the rise. “The state has been obtaining these bags from West Bengal and Chhattisgarh. With new jute mills opening in the state, the state will be able to save on these expenditures “he stated.