NEW DELHI: BL Agro plans to invest Rs 500 cr in Telangana and has signed an initial pact with the state government to set up manufacturing plant to make various food products.

In a statement, it said it has signed a memorandum of understanding (MoU) with Telangana chief minister Anumula Revanth Reddy at the World Economic Forum at Davos.

“Under the MoU, the company plans to invest Rs 500 crore in Telangana and employ 5,000 people,” BL Agro said. The new unit will be engaged in producing the entire range of brand Nourish products - wheat flour, pasta, vermicelli, spices, papad etc along with rice bran and cottonseed oils.