Rs 2,619 Crores In Investment Proposals For TS

Industries Minister Jupally Krishna Rao on Monday claimed that investment proposals worth over Rs 2,619 crores had been received since the formation of Telangana on June 2 last year.

Speaking to media persons at the office of the Telangana Industrial Infrastructure Corporation, Rao said that the state government was in receipt of applications for the setting up of 5,298 units across Telangana, which were likely to create about 46,235 jobs.

He also informed that under Telangana's new industrial policy, the first iPass permission had been granted to VST for the setting up of a tobacco processing unit at Toopran at a cost of Rs 80 crores, which would create 600 new jobs.

Jupally informed that currently the installation outlay of Telangana's production was Rs 1,628 crores, and that another 3,067 units were under production and may create about 34,000 jobs.

He assured that under the new policy, all Mega Projects would be cleared in 15 days, while MSME proposals would be sanctioned in 13 days.

He also informed that a meeting would be convened soon with the State Level Bankers' Committee over the industrial loans. He said that all General Managers of the Industries Department in all the districts had been directed to have effective coordination with the different departments.

The minister said that the state government was preparing packages for the revival of the sick industries in the state. He also informed that the Chasing Cell in the Chief Minister's Office and a toll free number would be operational within 15 days.

Replying to a question, Special Chief Secretary Pradeep Chandra informed that the Industries Department had not allotted any land to Satyam Infotech. He said that the IT Department has taken away the land which was allotted to the scam-hit company in Sultanpur. (INN)