Investments worth Rs 1,850 crore in one week make Telangana a trailblazer

Telangana has attracted cumulative investments worth Rs 1,850 crore from three companies in just one week from October 9 t 16.

Hyderabad: Asserting its position as the marquee destination for investments in India, Telangana has attracted cumulative investments worth Rs 1,850 crore from three companies in just one week from October 9 to 16. These three investments have a potential to create employment for about 4,500 people. These came in from sectors as varied as life sciences, edible oils and jewellery making.

The new week too started on a positive note for Telangana with pharma company Hetero announcing its commitment to invest about Rs 600 crore in a manufacturing unit it acquired. This will create employment to about 2,000 people. Global pharma player Roche too announced setting up its Global Analytics and Technology Centre of Excellence (GATE) in Hyderabad.

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The Telangana State Industrial Project Approval and Self-Certification System (TS-iPASS), the single-window clearance for industries, has been the driving force of investment flow to Telangana.

“Telangana continues to attract fresh investments thanks to the stable Government, business-friendly atmosphere, and path-breaking policies like TSiPASS,” IT and Industries Minister KT Rama Rao said in a tweet summarising the State’s achievement.

On October 10, Hyderabad-headquartered vaccine maker Indian Immunologicals Limited (IIL) announced a Rs 700 crore investment to set up a new animal vaccine manufacturing facility in Genome Valley in Hyderabad. The focus is economically important diseases such as foot-and-mouth (FMD) disease. The unit, which will be the third vaccine facility in Hyderabad and will add another 300 million doses per annum FMD vaccine capacity, will create employment for around 750 people.

“IIL vaccine facility in Hyderabad will ensure self-sufficiency for our nation in vaccines and save the exchequer and farmers several thousands of crores,” Dr K Anand Kumar, Managing Director, IIL, had said.

Two days later on October 12, Hyderabad-based Gemini Edibles and Fats India (GEF) Managing Director Pradeep Chowdhry met Rama Rao to announce an investment of Rs 400 crore in Telangana to set up an edible oil refinery.

Telangana has already set in motion the 2nd Green Revolution, Blue Revolution, Pink Revolution and White Revolution with its policies. It has now embarked on a Yellow Revolution (oil) and is promoting cultivating oil palm on a large scale. The proposed unit will increase the edible oil output from Telangana. It is likely to have a 1,000 tonne per day capacity plant. This will be the first of its kind plant coming up in the landlocked Telangana as its three other plants are port-based since it imports crude oil for refining. The unit will create employment for about 1,000 people.

Joining the flow of investors, the Malabar Group on October 15 announced a Rs 750 crore investment to set up a manufacturing and refinery facility in Maheshwaram of Rangareddy district. The facility will be the largest jewellery manufacturing unit of Malabar Gold & Diamonds and would generate 2,750 jobs when it is operational. It will have the capacity to produce 10 tonnes of gold jewellery and 1.5 lakh carats of diamond jewellery annually. The gold refining capacity will be 180 tonnes.

Rama Rao assured that the company would not have difficulty in finding skilled manpower in the State as fine craftsmen were available across the State. For Telangana, gems and jewellery is also a priority sector with potential to create large scale employment.

“The soon-to-be operational manufacturing unit in Telangana will strengthen our manufacturing capabilities. We are grateful to the Government of Telangana for extending all possible support in quick succession to help us set up the manufacturing unit in Maheshwaram,” Malabar Group Chairman Ahammed MP said.

The latest was Hetero, a Hyderabad-headquartered pharma company, which said it acquired a manufacturing plant in Penjerla village of Kothur mandal in Mahabubnagar.

“We are committed to an investment upwards of $75 million, (approximately Rs 600 crore) to upgrade and enhance existing facilities at the site and expand manufacturing of our global biologics and sterile pharmaceutical products,” said Dr Vamsi Krishna Bandi, Managing Director, Hetero.

It will add about 2,000 jobs in biochemistry, pharmaceutical sciences, molecular biosciences, engineering, and ancillary services. It will be Hetero’s flagship sterile pharmaceutical and biologics manufacturing unit.

October 10

Indian Indian Immunologicals

• Rs 700 crore for new animal vaccine facility

• Will double capacity of foot-and-mouth disease vaccine for cattle from the current 300 million doses

• Employment to 750 people

October 12

Gemini Edibles and Fats

• Rs 400 crore for an edible oil refinery

• Employment to 1,000 people

• Has three port-based units but chose Telangana for its focus on food processing

October 15

Malabar Group

• Rs 750 crore to set up largest jewellery manufacturing unit of Malabar Gold & Diamonds

• To create 2,750 jobs

• Will be able to make 10 tonne gold jewellery, 1.5 lakh carats of diamond jewellery annually and refine 180 tonnes of gold