Hyderabad sources reported that Orient Cement Ltd, a part of C.K. Birla Group, on Monday signed a MoU with Telangana government to expand the capacity of its plant in the state with an investment of Rs 2,000 crore. Meanwhile the companies will double the capacity of its factory at Devapur in Mancherial district to 2.60 million tonnes of cement per annum.
Accordingly the Memorandum of Understanding (MOU) was signed by the officials from the two sides in presence of Telangana's Industry Minister K.T. Rama Rao and C.K. Birla Group Chairman C.K. Birla. Moreover Rama Rao told reporters that this expansion will create 4,000 direct jobs and indirect employment to another 4,000 people and also urged Orient Cement to provide jobs to locals and said if necessary, the government would set up a centre to provide training to them.
Furthermore he said since it is a forest area and
the company cannot mine there, the mining will be through Telangana State
Mineral Development Corporation (TSMDC). Moreover he said the limestone
deposits are being given through TSMDC. Further as per report Birla said the
process to obtain all clearances from the Centre for the expansion was
progressing at fast pace and expressed the hope that they would soon get the
clearances and finally said the expansion work would commence soon.
Bengaluru Techstars accelerator begins operations from February 4, 2019 As per report Global entrepreneurial mentoring network Techstars on Monday announced to open its first mentor ship driven accelerator in Bengaluru to nurture Indian start ups in the emerging technologies. Meanwhile to begin with, the Techstars accelerator in India will invest $120,000 each in 10 start ups working in fields like Artificial Intelligence (AI), Blockchain, AR/VR, Robotics, Internet of Things (IoT) and Big Data Analytics.
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