The TRS-led Telangana government, which had unveiled a bold industrial policy on June 12 promising to clear investment proposals within a fortnight, has walked the talk and cleared the names of 17 companies within 10 days of them applying for setting up projects in the state.
Chief Minister K Chandrasekhara Rao will sign and release the requisite documents to the representatives of these companies on Tuesday.
The 17 companies will invest Rs 1,500 crore and will create about 4,000 jobs, a state government official said.
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With an investment of Rs 800 crore in a food processing unit in Toopran Mandal in Medak district, the ITC is the biggest investor among the 17 companies.
Other companies that have got clearances for their projects are Anjani Portland Cement Ltd, MSN Life Sciences Private Limited, Sneha Farms Ltd, Aizant Drug Research Solutions, Pioneer Torsteel Mills Ltd, Solithro Private Ltd, Covalent Laboratories Pvt Ltd, EPR Centre for Cancer Research and Bio-Informatics Pvt Ltd, Bhavna Solar, Premier Photovoltaic Pvt Ltd, Usha Ventures Pvt Ltd, Value Labs, Dodla Dairy Ltd, HIL Ltd (Plastics), Duraline India Pvt Ltd (Telecom) and Nuzen Industries Pvt LTd.
The industrial policy, titled Telangna State Industrial Project Approval and Self-Certification System (TS-iPASS), has the provision for penalising government officials found responsible for delay in processing of the investment applications. A penalty of Rs 1,000 per day would be levied on government officials who delay projects beyond the time limit of 15 days, according to the policy document .
“The fact that the state can be held accountable for delays has given lot of confidence to investors and industrialists. No one expected this kind of a policy could be possible in the country,’’ says IT Secretary Jayesh Ranjan, who pushed for the penalty clause. Arvind Kumar, Secretary (Industries), said: “The process to clear project proposals is quick, transparent and time-bound. For investors, there is a right to clearance clause in the policy and a 15-day timeline to give clearances to mega projects of Rs 200 crore and above, and 30 days for all other projects.’’
The state government has also set aside a land bank of over 1.30 lakh acre of non-agriculture land to be allotted to investors and companies. “Since this land is not suitable for agriculture, there are no hurdles,” an official said.