Kerala-based textiles major Kitex Group will invest Rs 2,400 crore in Telangana to set up two integrated fibre-to-apparel manufacturing clusters. The group, which had announced a Rs 1,000 crore investment back in July, has now expanded its investment plans. As per the MoU signed with the Telangana government on Saturday, September 18, Kitex will set up integrated fibre-to-apparel manufacturing clusters at two locations — the Kakatiya Mega Textile Park in Warangal, and at Sitarampur in the Rangareddy district.
The investment will provide direct employment to 22,000 people and indirect employment to 18,000 people, Industries Minister KT Rama Rao said. Works on both clusters are expected to commence within the next three months. The state government has reportedly assured necessary assistance to improve the investment environment for KITEX, including prompt land allotment, adequate infrastructure development, provision of Common Effluent Treatment Plant, and offering competitive incentives customised to KITEX’s requirements.
The MoU was signed by Jayesh Ranjan, Principal Secretary (Industries), Government of Telangana, and Kitex Group Chairman and Managing Director Sabu M Jacob. Speaking on the occasion, Jacob said that he expects that three million pieces will be shipped from Telangana to the US market. "When we decided to quit Kerala and withdrew our investment of Rs 3,500 crore, I got invitations from all the states in India and other countries too," he said. The major industrial group in Kerala had in June announced withdrawal from a Rs 3,500 crore investment project, alleging harassment by state government officials.
He said that he was in Telangana because of KTR, who was the first person to call him and personally invite him. KTR narrated how he reached out to Jacob after Kitex pulled out of Kerala, and arranged a special flight for Jacob to visit Hyderabad and Warangal. The minister said Jacob told him that he would kickstart the unit in Warangal in November 2022. He also assured all support to the company in setting up both the plants. The minister also thanked Jacob for announcing 150,000 PPE kits worth Rs 6 crore for Telangana under corporate social responsibility.
With IANS inputs