Along with local dairy farmers being getting benefited, it is also expected to generate about 500 jobs and enhance the local economy.
The Telangana Industries department has agreed to offer a number of benefits, incentives and subsidies to the Chennai based award winning “The Fastest Growing Asian Dairy Company”, Hatsun Agro Product Limited to set up an ice cream factory plant at Govindpur in Zaheerabad taluk in Medak district of the State. The Zaheerabad town is strategically located at the Karnataka-Telangana state border on NH-9.
The billion dollar conglomerate in a regulatory submission has informed BSE (formerly known as the Bombay Stock Exchange Ltd) that the Telangana Industries & Commerce Department has approached to the company on November 20, 2020, through a Memo dated on September 1, 2020, has agreed to offer numerous subsidies for an amount that not exceeds beyond Rs. 25 crore.
Investment, Local Economy and Benefits
The Arun Ice cream brand owning company (Hatsun Agro Product Pvt. Ltd) had earlier of year 2020, hinted its strategy to set up a plant with 100 tonnes Ice cream out put capacity per day in the states with a total investment of ₹207 crore. Along with local dairy farmers being getting benefited from this facility, it is also expected to generate about 500 jobs for local people.
The State has recognized agriculture, food processing and allied sectors as one of the main focused area which has a huge potential for drawing the investment and creation desired numbers of jobs. The government found out few land parcels where such job creation promising and local economy booting industries could be set up in a cluster.