Hyderabad: Bengaluru-based Namrata Hemp Company is planning to establish a hemp processing unit in Nalgonda of Telangana. The company plans to take up hemp cultivation in Telangana. It wants to invest Rs 15 crore for this project.
Namrata Hemp is looking to collaborate with Agriculture and Horticulture Department of Telangana to build up public private partnership model for the State-owned barren land and transform it into productive land by hemp farming.
Harshvardhan Redi Sirupa, founder and CEO, Namrata Hemp Company said, “Hemp can be capitalised into several industries such as FMCG, textile, real estate, wellness, food, automobile, paper, industrial products and building materials. We are looking for 25 acres of land in Telangana for hemp cultivation and about 12 acres for setting up a hemp processing unit, with a combined investment of Rs 15 crore.”
The company which released a white paper titled ‘Industrial Hemp-The Sunrise Industry of Telangana’ noted that there is a potential to generate 10 million jobs and $5 billion through organic cultivation of hemp in the State.