ITC Group to Invest 8,000 Crores in Telangana
The Chief Minister of Telangana K.Chandra Shekar Rao had inaugurated the new Industrial policy for the year 2015. This inaugural ceremony was held today at Hyderabad Inrternational Convention Center, Hyderabad. The event was witnessed by top industrialists, entrepreneurs and business leaders of the country. The Chief Minister had addressed the audience and welcomed the industrialists to start their new ventures in the state of Telangana. Chief Minister was accompanied by the Minister for Industries Jupally Krishna Rao, Minister for Electricity Jagadheeshwar Reddy, Minister for Panchayat Raj and IT services KT Rama Rao and Rajya Sabha member Keshava Rao.
ITC Group of Industries has been impressed with the new industrial policy of the state. Mr. YC Deveshwar, Chairman, ITC Group has expressed their interest in investing in Telangana and announced that ITC group will invest almost 8,000 crores for the upcoming projects. A world class food processing unit will soon be established near Medak with a capital of 800 crore rupees, which will have the standards to fulfill the global requirements. Another hotel of ITC Group will be established in cyber city with an amount of almost 1,000 crores. He continued that ITC Kakatiya group is the only greenest hotel chain in India which is platinum rated.