BL Agro intends to invest Rs 500 crore in Telangana and has entered into an initial agreement with the state government to establish a manufacturing plant for the production of various food products. The company stated that it has formalized a memorandum of understanding (MoU) with Telangana Chief Minister Anumula Revanth Reddy for the establishment of a manufacturing unit in the state.
The MoU was recently signed at the World Economic Forum in Davos, Switzerland.
The upcoming manufacturing unit will focus on the production of the complete range of Nourish brand products, including wheat flour, pasta, vermicelli, spices, papad, along with 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 guidelines laid in the MoU, BL Agro, along with its group company, Leads Connect Agritech, plans to 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 agriculture sector.