Hyderabad: In a firm response to allegations of favouritism surrounding an investment proposal by SwachhBio, a company owned by the chief minister’s brother, IT and Industries Minister D Sridhar Babu refuted the claims on Saturday, labelling them as a “misinformation campaign” targeting the recently announced bioethanol project, reports The New Indian Express.
During a press briefing at the Secretariat, Sridhar Babu addressed the issue, stating that “although SwachhBio is a newly formed company, it has partnered with Suganit Renewables and possesses eight patents in the bioethanol production process, including advanced 2G ethanol technology. The company has sufficient resources and plans to establish multiple units across Telangana. The Memorandum of Understanding (MoU) signed with the government is standard, with no special benefits like land or incentives granted.”
He emphasized the need to encourage investment in the state and urged critics of the government to avoid making unfounded accusations. “Everyone should play a role in the development and success of Telangana. The government welcomes investments from all sources, including those from the relatives of our critics,” Sridhar Babu said.
Swachh Bio, a company specializing in lignocellulosic biofuels, has announced plans to establish a 250 KLPD second-generation cellulosic biofuel plant in Telangana.
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