KCR inaugurates Rs 200 Cr facility in Mahabubnagar Mahabubnagar, Sept 18 (INN): Telangana State Chief Minister K Chandrashekar Rao inaugurated world class glass manufacturing plant of Cogent Glass Ltd, an affiliate of SGD group, at Vemula village in Addakal mandal here on Thursday.
The Rs 200-crore facility will provide direct jobs to 450 people and indirect employment to nearly 1,000 people. The company plans to expand the facility by investing another Rs 100-300 crore in the next two years which would increase its employment potential by 350 persons. Nearly 70 per cent of the jobs would be given to local residents.
Speaking after inaugurating the facility, the Chief Minister announced that the plant would be given dedicated power supply. He also announced that the State's new industrial policy would be announced in the Assembly's budget session. Stating that the policy would be the best in the world, he said new investors would be happy to invest in Telangana State.
The Chief Minister also promised that the Water Grid would be ready in the next four years with an investment of nearly Rs 30,000 crore. Similarly, all minor irrigation tanks would be revived in the next five years by spending Rs 20,000 crore.
A provision of Rs 5,000 crore is being allocated in this year's budget for this purpose. He informed that surveys and Detailed Project Reports (DPRs) are being prepared for the Palamuru Lift Irrigation and Jurala-Pakala projects of Mahabubnagar district at a cost of Rs 11 crore.
Consul General of US Micheal Mulliams, Consul General France Erit Lavertu, Lok Sabha MP Jithender Reddy, MLAs Aala Venkateshwar Reddy and Srinivas Goud, MLC Jagadeshwar Reddy and senior officials were also present.
The facility, inaugurated by the Chief Minister today, has a production capacity of one million pieces a day of Type I moulded vials and half-a-million pieces of tubular glass containers for the pharmaceutical industry, said Frederic Barbier, Managing Director, Cogent Glass Ltd.
News Posted: 18 September, 2014
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