ITC plans to set up Rs 3,500 crore paper unit in Telangana
ITC, a multi-business conglomerate , plans to set up a paper manufacturing unit in Telangana with an investment of Rs.3,500 crore.
The company officials conveyed this to Telangana Chief Minister K. Chandrasekhar Rao during a meeting in Hyderabad on Monday, said a statement from the chief minister’s office.
KCR, as the chief minister is popularly known, welcomed the decision of the group and said his government would provide adequate land for the plant.
A delegation of top officials of ITC led by its executive director Pradeep Dhobale met the CM.
They also expressed willingness to set up food processing and agro based units and take up eucalyptus plantation over one lakh acres.
Hinduja chairman Ashok Hinduja also called K. Chandrasekhar Rao. The Chief Minister urged him to ensure that Telangana get its share of electricity from Hinduja plant.
The newly-created Telangana state is seeking its share from power plants located in Andhra Pradesh including Visakhapatnam-based Hinduja plant.