New Delhi: Fast-moving consumer goods (FMCG) company BL Agro has inked a Memorandum of Understanding (MOU) with the Chief Minister of Telangana to establish a manufacturing unit in the state, marking its foray into South India, according to a press release on Thursday.
The MOU was signed during the World Economic Forum held in Davos, Switzerland, and outlines BL Agro’s plans to invest INR 500 crore in Telangana, as stated in the release.
Ashish Khandelwal, Managing Director of BL Agro, expressed that the new manufacturing unit is poised to set the stage for innovation, empowerment, and prosperity in the state.
The upcoming manufacturing facility is anticipated to produce the entire range of ‘Nourish’ products, including wheat flour, pasta, vermicelli, spices, and papad. This initiative is expected to generate employment opportunities for approximately 5,000 workers, encompassing skilled personnel, farmers, and other labourers.
Under the terms of the MOU, BL Agro, in collaboration with its group company Leads Connect Agritech, aims to establish an agricultural value chain in the state under the banner of their initiative, ‘Khet Se Kitchen Tak.’ This initiative aligns with the company’s commitment to contributing to the overall growth and development of the agricultural sector in Telangana.