Kerala-based Kitex Group will invest Rs 1,000 crores in Kakatiya Mega Textile Park in Warangal, Telangana, TRS working president and IT minister KT Rama Rao announced today.
A delegation from the firm led by its Chairman and Managing Director Sabu M Jacob had met KTR in Hyderabad today to discuss setting up a textile manufacturing unit in the state.
“In principle, the Kitex Group has agreed upon a Phase- I investment of 1000 crores within a span of two years in the textile industry for the project ‘Textile Apparel’ in the Kakatiya Mega Textile Park in Warangal. This investment will generate employment of 4000 jobs in the State of Telangana,” an official statement from Jacob’s office stated.
During the meeting, KTR gave an overview of the progressive industrial policies of Telangana and the availability of required resources for the textiles sector, a tweet from the office of the Minister said.
Alleging harassment by the Kerala government officials, Jacob last week said his group was withdrawing its project from the State.
Sources in the Telangana government said the Industries Minister and senior officials had asked Jacob to visit the State to know about ease of doing business there. The delegation was taken to the Kakatiya Textile Park in Warangal in a chopper to have a look at the facilities available, the sources said.