Hyderabad, Sep 27 : Telangana IT and Industry Minister K T Rama Rao on Monday informed the Assembly that the state government has signed a Memorandum of Understanding (MoU) with three Companies for setting up Jute Mills in the state.
The Companies are M/s Gloster Limited at Warangal district, M/s MBG Commodities at Rajanna Siricilla district and M/s Kaleshwaram Agro Private Limited at Kamareddy district.
Replying to a question raised by members during the question hour, Mr Rao said the state government will give incentives under Telangana Textile and Apparel Policy to the Companies for setting up Jute Mills in Telangana for manufacturing of gunny bags.
Stating that the government will also offer buyback guarantee for gunny bags produced by the units for 20 years, the Minister said the government will facilitate jute cultivation in the state by facilitating the three companies to tie up with farmers for growing jute as a third crop between the two paddy crops thereby increasing farmers income.(UNI)