BL Agro is set to invest INR 500 crore in Telangana and has signed an initial agreement with the state government to establish a manufacturing plant for various food products. The company, in a statement, announced that it has signed a Memorandum of Understanding (MoU) with Telangana Chief Minister Anumula Revanth Reddy to set up a manufacturing unit in the state.
The Memorandum of Understanding (MoU) was recently signed during the World Economic Forum held in Davos, Switzerland.
“Under the MoU, the company plans to invest INR 500 crores in Telangana and employ 5,000 people,” BL Agro said.
The upcoming manufacturing facility will be involved in the production of the complete spectrum of Nourish brand products, including wheat flour, pasta, vermicelli, spices, papad, etc. Additionally, it will manufacture rice bran and cottonseed oils.
“It is a moment of pride for us as a Group company to sign an MoU with the Telangana government and expand our footprints in the Southern part of the country,” Ashish Khandelwal, Managing Director, BL Agro said.
As per the terms set forth in the Memorandum of Understanding (MoU), BL Agro, in conjunction with its affiliate company Leads Connect Agritech, is set to establish an agricultural value chain in the state through its initiative ‘Khet Se Kitchen Tak.’ This initiative is aimed at supporting the farming community and agribusinesses, with the goal of enhancing productivity and sustainability in the agriculture sector.
Situated in Bareilly, Uttar Pradesh, BL Agro Industries Ltd is a key player in the Indian market, specializing in branded edible oils and various other food products.
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