He said the government has cleared a proposal by the hotel division of the multi-business conglomerate for setting up a five-star hotel in Madhapur area, the IT hub of the state capital.

"They (ITC) have approached us with a proposal for setting up a food processing park. We suggest them to set it up at Gajwel as it is nearer to the state capital and more apt," Rao said on the sidelines of a national conference on packaging.

The minister, however, did not disclose the investment proposal by ITC, saying that talks are still in preliminary stages.

Rao further said that ITC Group would be pumping in around Rs 700 crore for the proposed hotel.
He said the government has already received proposals for expansion of ITC's existing paper plant at Bhadrachalam with an investment of Rs 3,000 crore.

Earlier, speaking at the two-day 'National Summit on Packaging for Tomorrow', Rao said his government is keen to work with corporates in waste management and recycling.

In his address, Dr Reddy's Laboratories Chairman K Satish Reddy said packaging innovations in pharmaceutical industry should be patient-friendly.


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