BL Agro Industries, a company that sells edible oils under the 'Bel Kolhu' brand, has signed a memorandum of understanding (MoU) with Telangana Chief Minister Anumula Revanth Reddy to invest Rs 500 crore in setting up a manufacturing facility in the state.

The new unit, which will employ 5,000 people, will produce a range of food products under the 'Nourish' brand, including wheat flour, pasta, vermicelli, spices, papad, rice bran, and cottonseed oils. The MoU was signed at the World Economic Forum in Davos, Switzerland.

BL Agro, along with agritech arm Leads Connect, will also create an agri value chain in Telangana under the initiative 'Khet Se Kitchen Tak', aimed at supporting farmers and improving productivity and sustainability in the farm sector.

Managing Director Ashish Khandelwal expressed pride in expanding the company's presence in the southern part of the country.