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Business EconomyPosted at: Jan 17 2024 8:01PM


Godrej Industries eyes major investments in Telangana

Hyderabad, Jan 17 (UNI) In a noteworthy development at the World Economic Forum (WEF) in Davos, Chief Minister of Telangana, A Revanth Reddy on Wednesday, held a crucial meeting with Nadir Godrej, Chairman & Managing Director of Godrej Industries Limited.
The meeting highlighted Godrej's deepening interest in Telangana, signaling the potential for significant investments across various sectors within the state, a statement from the Chief Minister’s Office here said.
During the discussions, Godrej expressed a strong desire to expand the Godrej Group's presence in Telangana through strategic investments. Already a key player in Telangana's oil palm mission, Godrej is set to establish one of India’s largest integrated oil palm processing complexes in Khammam district with an initial investment of Rs 270 crore.
As part of a joint venture with the Malaysian oil palm giant Sime Darby, Godrej will establish India’s first commercial oil palm seed garden in Khammam. This venture is crucial for the National Mission on edible oils, aiming at achieving self-sufficiency in edible oils. The seed garden in Khammam will make Telangana the exclusive source of indigenously produced oil palm germplasm, capable of producing 7 million saplings annually to support oil palm plantation in over a million acres.
Additionally, Godrej committed to establishing a 1000-crore chemical plant in Telangana. The discussions also covered collaborative ventures in skill development, real estate projects, and the expansion of the creamline dairy business.
Present at the meeting were Minister for Industries and ITE&C Sri D. Sridhar Babu, Principal Secretary ITE&C, I&C Sri Jayesh Ranjan, and Special Secretary, Investment Promotion, Vishnu Vardhan Reddy.
The Chief Minister assured Godrej of the government's full support for these ventures, highlighting Telangana's business-friendly environment and commitment to facilitating industrial growth.
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