The Opposition in Telangana has raised questions on ownership of Swacch Bio, a lignocellulosic biofuels company, which has announced investment in Telangana during the ongoing tour of Chief Minister A Revanth Reddy to the US.
The Opposition BRS has alleged that the company was incorporated days before the CM’s tour to the US and that the CM’s brother was a director of it.
An official announcement came on Tuesday that in presence of Reddy and his team Swachh Bio would set up a 250KLPD second-generation, cellulosic biofuels plant in Telangana.
The company announced a capital investment of over ₹1,000 crore, in the first phase, which will provide employment to 250 people at the plant, and 250 people in additional support and other roles.
The agreement was signed by Praveen Paripati, Chairperson, Swacch Bio.
While the Chief Minister’s office did not respond to the issue, the BRS is proposing to escalate it.
Addressing media here on Wednesday senior leaders of BRS party stated that during Reddy’s US tour, the State government made a thousand-crore deal with Swacch Bio, a company owned by one of the brothers of the Chief Minister, Enumula Jagadish Reddy. This company was established only fifteen days ago and another four companies were set up under the supervision of the brothers. Apart from major companies, the Chief Minister’s brothers are directors in numerous micro-companies, the BRS leaders said.