ITC plans Rs 3,500 cr paper unit in Telangana; Microsoft to expand ops

Diversified group ITC has expressed willingness to set up a paper manufacturing unit inTelangana with an investment of Rs 3,500 crore.This was conveyed by top officials of ITC to TelanganaChief Minister K Chandrasekhar Rao during a meeting in Hyderabad, saidan official release.

Expressing happiness over the move, Rao said hisgovernment is ready to provide adequate land for establishingthe plant, the release from Chief Minister's Office said.

A delegation of top officials of ITC led by its executive director Pradeep Dhobale met the chief minister.

They also expressed willingness to set up food processing and agro based units and take up eucalyptus plantation over one lakh acres.

Microsoft India Chairman Bhaskar Pramanik, who also metthe Chief Minister, said the company would like to expand itsactivities in the newly-created State, it said.

Hinduja Group Chairman Ashok Hinduja also called on Rao.

Noting that the Telangana government is in the process offormulating an industrial policy, the Chief Minister said hewould interact further with the industrialists after thepolicy is ready, the release added.

Agencies

Updated Date: Dec 21, 2014 10:36:37 IST