BL Agro plans to invest Rs 500 crore in Telangana and has signed an initial pact with the state government to set up a manufacturing plant to make various food products.
The company said in a statement that it has signed a memorandum of understanding (MoU) with Telangana Chief Minister Anumula Revanth Reddy to set up a manufacturing unit in the state.
The MoU was signed recently at the World Economic Forum at Davos, Switzerland.
"Under the MoU, the company plans to invest Rs 500 crores in Telangana and employ 5,000 people," BL Agro said.
The new manufacturing unit will be engaged in producing the entire range of brand Nourish products -- wheat flour, pasta, vermicelli, spices, papad, etc, along with rice bran and cottonseed oils.
"It is a moment of pride for us as a Group company to sign an MoU with the Telangana government and expand our footprints in the Southern part of the country," Ashish Khandelwal, Managing Director, BL Agro said.
As per the guidelines laid in the MoU, BL Agro, along with its group company, Leads Connect agritech, plans to create an agri value chain in the state under its initiative 'Khet Se Kitchen Tak', which supports the farmers' community and agribusinesses, and help improve productivity and sustainability in the agriculture sector.
Based in Bareilly, Uttar Pradesh, BL Agro Industries Ltd is into branded edible oil and other food products players in India.