Telangana IT and Industries Minister D. Sridhar Babu addressed a press conference held at Dr. B.R. Ambedkar Telangana State Secretariat on Saturday (August 17, 2024).
| Photo Credit: By Arrangement
Telangana IT and Industries Minister gave the first official clarification to the criticism pertaining to the investment announcement by Swachh Bio. He said that though Swachh Bio may have been incorporated recently, it has entered into a partnership with Suganit renewables and has as many as eight patents in the bioethanol production cycle including 2G ethanol technology.
“They have raised enough resources and have big plans to set up multiple units in the State. What we signed was a generic MoU and the government has not offered anything special in terms of land or incentives,” the Industries Minister said.
Addressing a press conference held at Dr. B.R. Ambedkar Telangana State Secretariat on Saturday (August 17, 2024), the IT and Industries Minister gave details about investments announced and MoUs signed by companies in the IT, Pharma and Life Sciences, EV and battery and companies in other sectors during the 10-day tour of the Telangana delegation led by Chief Minister A. Revanth Reddy, to the US and South Korea
The allegations about Swachh Bio were leveled by Bharat Rashtra Samithi (BRS) during the visit. Swachh Bio announced capital investment of ₹1,000 crore in the first phase and that it will establish a 250 kilo litre per day second generation biofuels plant in the State.
The Opposition BRS alleged nepotism in striking a deal with the company. The party leader Manne Krishank said that it is a two-week-old company whose second director is Anumula Jagadeesh Reddybrother of Chief Minister A. Revanth Reddy.
Mr. Sridhar Babu said that they welcome if BRS working president’s K.T. Rama Rao’s siblings step forward to partner with the government.
At the press conference, he said that the visit was highly productive. “We were able to conclude 19 investment deals/MoUs, totaling an investment of ₹31,500 crore and 30,750 jobs for the State,” he said.
