Hyderabad: Telangana Government has approved the revival plan of Ballapur Industries Limited (BILT). The industry had been closed in April 2014 before the formation of Telangana state.
As a part of this agreement, Telangana Government has agreed to accept BILT payments such as pending power bills, taxes and forest dept arrears in instalments.
The company is going to invest 125 CR additional investments towards modernization of the plan and machinery. With the revival of this company, hundreds of families from the tribal areas of Jayashankar Bhupalapally district will be benefitted.
While it was functional, the company had provided direct employment to 750 employees and indirect employment to several hundreds. All these people are expected to be employed with the revival of this company.
Industries Minister K. Tarakarama Rao said, “Besides encouraging reputed companies to establish their units in Telangana, State Government is equally determined to revive sick industries in the state.
Telangana Government‘s committed and sustained efforts resulted in the revival of sick industries such as Ramagundam Fertilisers, Sirpur Kagaznagar Paper Mills in the recent past and now BILT.
State Government has been trying to revive this company for two years. After a series of discussions and delegations, revival plan has been decided two weeks ago. And the final orders have been issued today.