Swachh Bio, a lignocellulosic biofuel manufacturing company, has come forward to invest over Rs 1,000 crore and set up a bio-fuel plant in Telangana.

The firm announced a capital investment of over Rs 1,000 crore, in the first phase, which will provide employment to 250 people at the plant, and 250 people in additional support and other roles. 

The company entered into an agreement with the government following a meeting Praveen Paripati, Chairperson, Swachh Bio, had with Chief Minister Revanth Reddy on Tuesday during his second day of official meetings with top businessmen in the US.

IT and ITES companies also are said to have evinced keen interest in investing in Telangana.

Swachh Bio’s international partner, Suganit Biorenewables, has developed a patented and viable technology in producing biofuels and biochemicals from biomass and cellulose, which would add to the Telangana government’s active efforts towards sustainable and eco-friendly growth of the state.