Post Date: Post Date – 11:50pm, Monday – November 7th
Hyderabad: The investment to date in the FLO Industrial Park in Sultanpur is around Rs 1.25 crore and is likely to double in about 6 to 8 months. Currently, about 12 companies have started operations, creating jobs for about 475 people. A further 13 companies are in various stages of construction and are likely to be operational by June next year.
In March, industry body Ladies Ficci Organization (FLO) and the Telangana government launched the first of its kind in the country, launching the FLO Industrial Park on a 50-acre site in suburban Sultanpur. All units here are entirely owned and run by women. In other industrial parks, women may have majority ownership of businesses. At FLO, only women are 100% stakeholders in the companies on the campus – without any shares. At the launch, IT and Industry Minister KT Rama Rao urged women entrepreneurs to develop their businesses in untapped and high-value fields rather than limiting themselves to traditional industries.
“Currently the work on FLO Industrial Park is going well. Telangana government has also completed most of the works such as roads, lights etc. We have asked the government to increase transportation facilities to help employees,” said Jyotsna, FICCI-FLO Governing Body Member and FLO Industrial Park Team Member Angara said.
Five companies have started operations in March. Since the inauguration of the FLO Industrial Park in March 2022, seven more units have been commissioned. Few others are building their factories. “We hope that by June 2023, all units will be operational,” she said.
Approximately 400 to 475 employees work in various units. This also includes daily wages and contract labor. The number of employees will increase as more units begin operations. She said the industrial park is expected to have a total investment of around Rs 250 crore, of which about half has already been invested.
The industrial park houses units from a variety of industries, including furniture, fans, packaging, general engineering, elevators and lifts, nutraceuticals, food processing, apparel, medical devices, and more. Companies such as Srishti Precast, Yash International and Salzgitter Lifts are in full production mode and want to explore the possibility of expanding in other locations.
What barriers have women-led and women-owned industrial parks broken down? “I think the world has started to recognize the power and ability of women entrepreneurs to contribute to the economy and society. Women are at the forefront of running established manufacturing businesses, making business and growth decisions, etc. Most units want to hire more women “We are waiting for all 25 units of this park to become operational and then we can focus on the next phase of growth,” Angara said.