Hyderabad: The RPS Goenka group, which owns Spencers Retail chain outlets, will set up a packaged food industry with an investment of Rs 200 crore at Toopran in Siddipet district.
The group’s representatives signed a Memorandum of Understanding (MoU) with State government officials in the presence of IT and Industries Minister KT Rama Rao and the group chairman Sanjiv Goenka in Kolkata on Monday.
During a series of meetings with industrialists organised by the Confederation of Indian Industries (CII) in Kolkata, Rama Rao announced that the RPSG group will establish the food processing unit in about 20 acres of land at Toopran to produce the company’s ‘E-Vita’ and ‘Too Yumm!’ brand products.
“It was great meeting Sanjiv Goenka, chairman of RPSG Group, who will be setting up a packaged food unit in Toopran. The MoU signed today (sic)” he tweeted. The Toopran unit will provide jobs to about 1,000 people and is part of the group’s recent announcement to invest Rs 10,000 crore across the country over a period of five to seven years.
It was great meeting Sanjiv Goenka Ji, chairman of RPS Goenka Group who will be setting up a packaged food unit in Tupran. MoU Signed today pic.twitter.com/hw6v972R9V
— KTR (@KTRTRS) October 16, 2017
Backward linkages for ryots
The RPSG Group and the Telangana government also agreed to build backward linkages for farmers where the State government will facilitate the company to help farmers in food processing and packaging sectors. The RPSG Group has agreed to make special arrangements to enable farmers sell their produce at market price in their native villages itself. They will also work towards establishing a local vendor base.
The Minister had a busy day interacting with various other industrialists to explain a host of investment opportunities in Telangana State. In a meeting with Srei Infrastructure Finance Company chairman Hemanth Kanoria, the Minister discussed the business opportunities for the company in Telangana, including infrastructure development projects, especially in Hyderabad Metro City. Kanoria expressed interest in providing financial assistance for development of industrial parks in the State and agreed to convene a meeting with investors from Japan, China and Korea in Hyderabad shortly.
Strengths of TS
Rama Rao held a meeting with Emami Group joint chairman RS Goenka who discussed opportunities in cement, FMCG (consumable business), bio-fuel and edible oil, in the State. He explained the State government’s proactive policies and investment opportunities. He also gave a presentation to the investors and explained the business opportunities being provided by the government in Telangana. He also informed them about novel policies of the State government, especially the priority given for investments in manufacturing sector with ‘Make in Telangana’ slogan. He was accompanied by a team of officials led by Principal Secretary Jayesh Ranjan.