Textile firm Kitex to invest Rs 10 bn in Telangana

Textile firm Kitex to invest Rs 10 bn in Telangana

Kitex Garments Limited, a Kerala-based company has announced an investment of Rs 10 billion for the setting up of a textile unit at Kakatiya Mega Textile Park in Warangal.

Hyderabad

Kitex Garments Limited, a Kerala-based
company has announced an investment of Rs 10 billion for the setting up of a
textile unit at Kakatiya Mega Textile Park in Warangal. Sabu M Jacob, Managing
Director, Kitex has said that there will be more investments by the group in
the state. The group has a good interaction with IT and Industries Minister KT
Rama Rao regarding future investments in the state. He also said that he will
be visiting Telangana again to discuss several aspects and some decisions
related to the election of land for setting up the proposed unit in the state
are to be taken.

When Jacob was
asked about the experience of meeting with Rama and the officials, he said, the
minister is very aggressive and is looking forward to bring investments and employment into the state. He is
personally involved in whatever he is doing.

According to the
company delegation, the state has investment-friendly policies and a conducive
atmosphere for the promotion of the textiles industry. It was also said that
the Group is looking forward to a positive investment in Telangana.

Source – Telangana Today

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Also Read:

https://indiantextilejournal.com/latest-textile-industry-news/kitex-group-withdraws-from-rs-35-bn-project-in-kerala-

https://indiantextilejournal.com/latest-textile-industry-news/kitex-sends-rs-1-billion-notice-to-mla-for-false-accusation

 

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