Telangana gets Rs 400 crore investment across pet food, confectionery, EV segments
Telangana landed four fresh investments across pet food, chocolates, bakery products and mobility segments. Of them, three have announced cumulative investments to the tune of about Rs 400 crore. One company chose not to disclose the investment size. The investment announcements were made at the launch event of Industries Department’s annual report by Industries Minister KT Rama Rao.
Mankind Consumer Healthcare, a leading company in pharmaceuticals and consumer products, said it will invest Rs 159 crore to establish a pet food manufacturing plant. It will augment the agri-food ecosystem of the State as it will use cereals such as rice and maize. Further, it will also use meat and fish waste, lending support to the growing meat and fisheries sector in the State. Company’s Chief Executive Officer Arjun Juneja and President-Operations Abhay Kumar Srivastava were present at the MoU signing. Principal Secretary Jayesh Ranjan and other officials were present.
Hyderbad-based 3F Industries, which produces bakery fats, fats for frozen desserts, fatty acids and other products, said it will invest Rs 123 crore to set up a unit for making export quality chocolates and bakery products at Banda Timmapur Food Processing Industrial Area. Omprakash Goenka, 3F Industries Director, signed the MoU for the project, which will further enhance the ecosystem in the State for bakery and confectionery industry.
Ravi Foods, another city-based bakery and confectionery items manufacturer, said will invest Rs 115 crore at Kothur to augment its manufacturing capacities. Ravi Foods has presence in more than 120 countries and has been a dominant player in the baked items and confectionery industry with biscuits, cookies, wafers, chocolates, candies and confectionery. Its Director Rajender Aggarwal and President Ravi Foods Ankit Aggarwal were present.
Lastly, UAE-based holding company Meta4, through its sister company Voltly Energy, will set up its own a manufacturing plant for production of electric vehicles. With this, Meta4 aims to bring EV’s to the Indian Market in line with the FAME 2 approvals. The facility will also include batteries and charging stations. It will also integrate the EV’s with its telematics software to provide real-time data to users for easier commute. Voltly CEO Shubhankar Choudary was present at the signing ceremony.
