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Business News
KITEX group to invest Rs 1000 Cr in Kakatiya Mega Textile Park
 
Hyderabad: Kerala based Textiles Major KITEX on Friday announced that it will invest Rs 1000 Crores to set up their units in Kakatiya Mega Textiles Park at Warangal in Telangana.

The announcement came after a series of meetings with the Telangana Industries Minister KTR and a dedicated team from the State Industries Department.

During the meeting, Minister KTR gave an overview of the progressive investment policies of the state government and also the availability of various resources for Textiles industry in Telangana.

The Minister explained about the TSIPASS Single Window clearance system, and the other advantages that Telagana offers.

Furthur the minister also stated that our State’s cotton is one of the finest in the world.
A delegation from KITEX, who met the Minister, gave a presentation on the group’s current activities, and their future expansion plans.

After initial round of meetings, the KITEX team flew to Kakatiya Mega Textile Park in a helicopter and inspected the premises accompanied by TSIIC Managing Director Venkat Narsimha Reddy.

Later in the evening, KITEX Group delegation , who flew to Hyderabad, met Minister KTR at Pragathi Bhavan and KITEX CMD Mr Sabu Jacob stated that they have decided to invest Rs 1000 Crores in principle in KMTP, Warangal.

This is Phase 1 of the investment and will be done in a span of two years, he said.
The proposed investment to set up Apparel manufacturing facility is expected to generate 4000 jobs he added.

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.

Telangana Industries Principal Secretary Jayesh Ranjan, Commissioner Textiles Shailaja Ramaiyer and Senior Officials from Telangana Govt participated in the meetings.


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