14 Companies To Invest Rs 1,118 Crores In Telangana

The Telangana government today offered permissions to 14 new businesses that will invest about Rs 1,118.62 crores and provide employment to 7,079 persons in the State, Industries Ministries Jupally Krishna Rao said.

The State government was giving fifth phase permissions of TS-ipass hassle-free to the new companies that were showing keen interest in pumping in huge funds and providing jobs to the local talent.

The Industries Minister offered permission letters to the 14 companies at the Secretariat. Six of the 14 companies will set up their units in the Ranga Reddy district, four in Mahabubnagar, two in Medak and one each in the Nalgonda and Nizamabad districts.

The minister asked the industries to offer 70 to 80 per cent of the jobs to locals.

Jupally emphasized that the new industrial policy was the best in the world as all permissions were being offered in just 12 days while Western countries took 30 to 45 days for giving permissions. During the previous four phases the government had offered permissions to 1,013 units that invested Rs 25,972 crores and provided employment for 76,314 persons, he said.