TS Govt to Revive BILT Factory in Mulugu, CM Holds Meeting with Officials
HYDERABAD: Chief Minister A. Revanth Reddy — deciding to revive the Kamalapuram unit of Ballarpur Industries Limited (BILT) in Mulugu, which was shut down in 2014 — on Monday held a meeting with Hardik Patel, MD of Finquest Financial Solutions Pvt Ltd, which secured BILT assets following the order from NCLAT (National Company Law Appellate Tribunal) and is in the process of disposing it to potential investors.
He expressed the state government’s strong desire to facilitate the revival of the factory and requested the Finquest team to expedite the process.
The Chief Minister discussed with senior officials the status of the revival of the Kamalapurum pulp mill, saying the new government has prioritised the revival of sick industrial units, like the BILT mill in Mulugu district, to boost economic activity and provide local employment.
In this context, the Chief Minister also held discussions with Vadiraj Kulkarni, the CEO of ITC, PSPD (Paperboards and Specialty Papers Division), on their ongoing projects in Telangana and future expansion plans.
ITC is in negotiations with Finquest to acquire BILT assets, and Revanth Reddy assured to extend all possible support to ITC for the successful revival of the BILT factory in Kamalapurum.
Ministers Danasari Anasuya (Seethakka) and Konda Surekha, Chief Secretary A. Santhi Kumari, industries secretary Jayesh Ranjan and CMO officials took part in the meeting.
The Kamalapuram unit in Mulugu district is a dedicated pulp mill manufacturing rayon-grade pulp for the viscose staple fibre (VSF) industry. The unit started commercial production in September 1981. Run by Ballarpur Industries Limited (BILT), the unit became sick and was closed in 2014. The closure of the unit affected the livelihoods of 750 workers’ families and 100s of indirect families dependent on the factory.
