Hyderabad, Sep 17 (IANS) Global pharmaceuticals and consumer packaged goods manufacturer Johnson and Johnson’s biggest manufacturing facility in India is set to come up in Telangana with an investment of Rs.400 crore.
Telangana Chief Minister K. Chandrasekhar Rao will Thursday lay the foundation stone for the American multinational’s plant in Penjerla village in Mahabubnagar district, about 60 km from Hyderabad.
Coming up on 48 acres, the plant will be operational from 2016 and will employ 1,500 people. It will manufacture hygiene and consumer goods products.
The same day, the chief minister will inaugurate a world-class glass manufacturing plant of Cognet Glass Limited, an affiliate of France-headquartered SGD Group.
The plant has come up in Vemula village in the same district.
US Consul General Michael Mullins and French Consul General Eric Lavertu will attend the inauguration.
Oaktree Capital Management, a Los Angeles-based investment firm managing over $80 billion in assets, last year acquired Cogent Glass Limited along with SGD.
This will be the first two big ticket investments in Telangana after it came into existence as a separate state June 2.
Ever since assuming office three months ago, Chandrasekhar Rao has been trying to woo investors, promising corruption-free administration and single-window system for all industrial clearances.