Big blow to Kerala! Kitex to set up its facility in Telangana with Rs 1000 cr initial investment

Hyderabad, July 10: After withdrawing its projects worth Rs 3,500 crore in Kerala, Kerala's largest private employer, Kitex Garments Limited has recently announced its 1000 crore investment in Kakatiya Mega Textile Park, Warangal.

 

 

Yesterday, KITEX Managing Director Sabu Jacob met IT and Industries Minister KT Rama Rao and discussed setting up a textile manufacturing unit in the state. During the meeting, KT Rama Rao gave an overview of the progressive investment policies of the state government and also the availability of various resources for the Textiles industry in Telangana. He also explained about the TSIPASS Single Window clearance system and the other advantages that Telangana offers.

  

Later in the evening, KITEX Managing Director Jacob announced the investment in Telangana. "In principle, the Kitex Group has agreed upon a Phase-II investment of 1,000 crores within a span of two years in the textile industry for the project 'Textile Apparel' in the Kakatiya Mega Textile Park in Warangal," Kitex MD Jacob said.

 

He also added that they are going to invest more in Telangana in the coming days. According to the Jacob, the first phase investment by Kitex will create 4,000 jobs.

 

 

 

Telangana Industries Minister KTR welcomed the KITEX group’s decision to invest in KMTP, Warangal. Minister assured of all possible cooperation for the KITEX group to set up their operations in Telangana.

 

Last month, the company announced the withdrawal of its Rs 3,500 crore project from Kerala due to constant harassment by officials of the CPM-led government. "Almost every day, officials of the government department descend on the premises of the company and make inquiries as if we committed a big fraud. I am fed up with continuous harassment. The government treats us like bourgeoises, exploitative capitalists, and land encroachers. Enough is enough," Kitex chairman Sabu M Jacob said.

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