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BL Agro Industries, which sells edible oils under the ‘Bel Kolhu’ brand, will invest ₹500 crore in Telangana to set up a manufacturing facility in the state to make various food products.
The company, based in Bareilly, Uttar Pradesh, has signed a memorandum of understanding (MoU) with Telangana Chief Minister Anumula Revanth Reddy to set up the unit in the state, it said in a statement without disclosing further details. The MoU was signed at the World Economic Forum at Davos, Switzerland.
“Under the MoU, the company plans to invest ₹500 crores in Telangana and employ 5,000 people,” BL Agro said. The new manufacturing unit will be engaged in producing the entire range of products under “Nourish” brand -- wheat flour, pasta, vermicelli, spices, papad. It will also 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 of BL Agro said.
BL Agro, along with Noida-based Leads Connect, the agritech arm of the group, will create an agri value chain in the state under its initiative ‘Khet Se Kitchen Tak’, which supports the farmers’ community and agribusinesses and help improve productivity and sustainability in the farm sector.
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