Telangana Government Signs MoUs To Establish Jute Mills In Telugu State, Attracts Investment Of Rs. 887 Crores

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On the 17th of September, the Telangana Rashtra Samithi (TRS) Government signed three memoranda of understanding (MoU) to establish jute mills.

On the 17th of September, Mr. K.T. Rama Rao, the Information Technology and Urban Development Minister of Telangana, signed the three MoUs. The agreement was signed between the Gloster Limited, MBD Commodities Private Limited and Kaleshwaram Agro Private Limited.

The new establishment of jute mills in Telangana would provide employment, increasing opportunities for youth of the Telugu State. With the jute mill industries, close to 10,400 jobs are expected in Telangana. The business perspective and growth of jute mill industries would attract an investment of Rs. 887 crores, making Telangana a self reliant state in terms of jute products.

The Gloster Limited is going to invest about Rs. 330 crores to set up the jute mill in Warangal, another Kaleshwaram Agro Limited is expected to invest Rs. 254 crores in Kamareddy and MBG Commodities Private Limited is going to invest Rs. 303 crores in Sircilla.

Mr. K.T. Rama Rao said, “The Telangana Government is procuring one crore tonnes of paddy. Farmers can focus on alternative crops that does not cause any loss to the state government and farmers.” He further said, with new establishments, jute products can be utilized as alternatives to plastic and the Government would give complete support to the jute mills industry aiming for growth and development in the State.

Mr. Rama Rao highlighted the growth of Telangana in agriculture and said, “Telangana has emerged as a seed bowl of India and the government is setting up food processing units in 10,000 crores. The jute industry will have great demand in the future.”

Meanwhile, today’s meeting with the representatives of the company was also attended by Mr. Gangula Kamalakar and Mr. Singireddy Niranjan Reddy and Mr. Jayesh Ranjan of the TRS Government.

Stay tuned for further updates.

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