Hyderabad: Welspun Group has announced an investment of Rs 3,000 crore to Rs 5,000 crore in Telangana and established its industrial units in different sectors.
IT and industries minister KT Rama Rao welcomed the announcement from the Welspun Group with the inauguration of their textile park on Wednesday.
Welspun Group is one of India’s fastest-growing global conglomerates with businesses in Home Textiles, Flooring Solutions, Advanced Textiles, etc.
The investment would be in addition to Rs 2,000 crore spent to establish the Welspun Group’s state-of-the-art textile park at Chandanvelly in the Rangareddy district.
KTR assured of extending support to the company for the expansion of its operations while elaborating on the efforts of the state government to attract investments into it.
The minister further urged the local leaders to resolve any issues arising out of industrial development amicably and ensure that local youth are not deprived of employment.
“With the advent of Welspun Group and other industrial giants, Chandanvelley and Sitharampur region will soon become the largest industrial hub in Telangana,” said KTR.
He further requested the Welspun Group to coordinate with the local leadership to meet their needs that could be provided under their Corporate Social Responsibility (CSR) programme.
In addition to this, KTR also assured the expansion of the road from Shamshabad airport to Chandanvelly into a four-lane road following a request from the Welspun Group chairman Balkrishan Goenka.
“The government would work out an action plan involving farmers for packaging and branding of cotton produced in the state,” held KTR.
The district administration and elected representatives were finally directed by the minister to set up a skill development centre at Chandanvelly, to train youth and women for employment in the industries established in the area.
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