Telangana Chief Minister A. Revanth Reddy has evinced keenness in reviving Kamalapuram Pulp Mill of Ballapur Industries Limited (BILT).
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The Chief Minister met the representatives of Finquest which secured the BILT assets in the State following an order from the NCLAT and it is in the process of disposing them to potential investors. He reviewed the status of the BILT in line with the priority his Government had accorded to revival of sick industrial units like BILT in Mulugu district as it would boost economic activity and provide local employment. He requested the Finquest team to expedite the process initiated in this direction.
The Chief Minister held discussions with ITC PSPD (paperboards and speciality papers division) CEO Vadiraj Kulkarni on the status of the company’s ongoing projects in Telangana and future expansion plans. The ITC is in negotiations with Finquest to acquire the assets of BILT. Mr. Revanth Reddy assured to extend all possible support to the ITC for the successful revival of BILT.
Delegations of industrialists called on Telangana Chief Minister A. Revanth Reddy. | Photo Credit: By Arrangement
The Chief Minister also met a senior level delegation of Hindustan Coca-Cola Beverages (HCCB) led by chief of Public Affairs, Communication and Sustainability Himanshu Priyadarshi. The delegation briefed Mr. Revanth Reddy about the company’s total investment in excess of Rs. 3,000 crore in Telangana including the ongoing greenfield project at Banditimmapur in Siddipet district.
The HCCB delegation reiterated the company’s commitment to contribute towards community development in the region. The Chief Minister assured the State Government’s help and cooperation in ensuring ease of doing business for the company.