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Britannia to invest Rs 127 crore in AP

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India’s food major, Britannia Industries Limited has evinced interest in setting up an agro-processing facility in Chittoor district. Company’s managing director Varun Berry called on Chief Minister N Chandrababu Naidu today to discuss company’s investiment plans in Andhra Pradesh.

During his meeting with the Chief Minister Naidu, Berry said that the company was planning to commission the first phase of the project in Chittoor district with an investment of Rs 125 crore by the end of 2016.

The 120 year old company on the look out of a location in Andhra Pradesh from where it could easily cater to the markets of Chennai and Bengaluru.
Chief Minister assured him the government would finalize the site in Chittoor district .
Chief minister briefed Berry about the states plans in promoting agro based industries in the state on priority basis.
“We are focusing on agriculture and allied activities like Horticulture, livestock, fisheries, dairy and poultry whose estimated growth rate for 2015-16 is 24% with Rs 1.87 lakh crore against 1.43 lakh crore in 2014-15,” the Chief Minister said asking the company to explore its options in the area.

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KCR blocking Andhra bound investors: Ravela

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Opening a new front in the on going  war of words with Telangana, Andhra Pradesh welfare minister Ravela Kishore Babu accused Telangana chief minister of creating hurdles to  the flow of investments to his state.

He said the Telangana chief minister KCR was sending mails to the prospective investors against investing in Andhra Pradesh stating that AP’s financial situation was not good and AP was not a suitable location to  set up new units.

Kishore Babu, a vocal minister in Andhra Pradesh cabinet, said jealous about the global response to the effort s AP Chief Minister Chandrababu Naidu’s, KCR was trying to prevent the investors by spreading canards about the  state finances.

“The TRS government in Telangana is hell bent on scuttling  progress of new Andhra Pradesh which is reemerging a powerful economy after the bifurcation. So, the TS government is trying to persuade some investors against choosing to invest in AP,” Ravela alleged.

He said the Andhra Pradesh government had enough evidence to prove that KCR was trying to scuttle the investors from making Andhra Pradesh their destination and added the the T-chief minister would get disappointed.

Telugu360 is always open for the best and bright journalists. If you are interested in full-time or freelance, email us at Krishna@telugu360.com.

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