IT and Industries Minister D Sridhar Babu firmly countered allegations of favoritism related to an investment proposal by SwachhBio, a company owned by the chief minister’s brother. On Saturday, he dismissed these claims as a “misinformation campaign” targeting the newly announced bioethanol project, according to The New Indian Express.
During a press briefing at the Secretariat, Sridhar Babu addressed the controversy, clarifying that while SwachhBio is a relatively new company, it has partnered with Suganit Renewables and holds eight patents in bioethanol production technology, including advanced 2G ethanol technology. He assured that the company has adequate resources and intends to set up multiple units across Telangana. He also stated that the Memorandum of Understanding (MoU) with the government is standard and does not include any special benefits such as land or incentives.
Sridhar Babu stressed the importance of fostering investment in the state and urged critics to refrain from making baseless accusations. “Everyone should contribute to the development and prosperity of Telangana. The government is open to investments from all sources, including those associated with the relatives of our critics,” he said.
SwachhBio, a company specializing in lignocellulosic biofuels, has announced plans to build a 250 KLPD second-generation cellulosic biofuel plant in Telangana.
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