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FMCG major ITC Ltd. has assured the Telangana government that it will consider the prospect of reviving ailing paper mill of BILT (AP Rayon) located in Warangal (Jai Shankar Bhoopalapally district) of the State.
Responding to the request of Telangana IT and Industries Minister KT Rama Rao calling upon ITC to handhold and revive sick paper mill, YC Deveshwar, Chairman, ITC Ltd., responded positively stating, “We will do so provided the State backs the move with certain incentives”.
Speaking after the formal inauguration of the ITC Kohenur, a luxury hospitality project in the IT hub of Hitec City in Hyderabad, Rao said: “The revival of the paper mill will help save the jobs of over 2,000 people and help the local economy.”
The Minister said with the support of the State government and lenders, similar efforts made to revive another sick paper unit, Sirpur Paper Mills Ltd, has yielded results with the mills on the verge of being taken over.