Godrej Industries expresses interest to make major investments in Telangana
In a significant development at the World Economic Forum in Davos, Hon’ble Chief Minister Sri Revanth Reddy had a crucial meeting with Mr. Nadir Godrej, Chairman & Managing Director of Godrej Industries Ltd.
Hyderabad: In a significant development at the World Economic Forum in Davos, Hon’ble Chief Minister Sri Revanth Reddy had a crucial meeting with Mr. Nadir Godrej, Chairman & Managing Director of Godrej Industries Ltd.
The meeting underscored Godrej’s growing interest in Telangana and the potential for substantial investments in various sectors within the state.
During the discussions, Mr. Godrej expressed keen interest in bolstering the Godrej Group’s footprint in Telangana through strategic investments.
Godrej is already a key player in driving the oil palm mission of the state, wherein they are setting up one of India’s largest integrated oil palm processing complex with an investment of INR 270 crore in first phase in Khammam district.
Godrej group has recently concluded a joint venture with the Malaysian oil palm giant Sime Darby. As a part of this JV, Godrej will be setting up India’s first commercial oil palm seed garden in Khammam, Telangana.
High quality oil palm seeds are a critical bottleneck and limiting factor for the National Mission on edible oils, which is aimed at achieving nation’s self-sufficiency for edible oils.
The new seed garden in Khammam will make Telangana the first and only source of indigenously produced oil palm germplasm of international repute and will have a capacity to produce 7 million saplings annually that will support oil palm plantation in more than a million acres.
Godrej also agreed to establish a 1,000-cr chemical plant in Telangana. Other key areas discussed included collaborative ventures in skill development, real estate development projects, and expanding the creamline dairy business.
The Hon’ble Chief Minister assured Mr. Godrej of the government’s full support for these ventures, emphasizing Telangana’s welcoming business environment and commitment to facilitating industrial growth.
Present at the meeting were Minister for Industries and IT Sri Sridhar Babu, Principal Secretary ITE&C, I&C Sri Jayesh Ranjan, and Special Secretary, Investment Promotion, Sri Vishnu Vardhan Reddy.
