Telangana: KITEX group invests Rs 1000 Crores in Kakatiya Mega Textile Park

The Kerala based Textiles KITEX has finally announced that it will invest an amount of Rs 1000 Crores to set up their units in Kakatiya Mega Textiles Park. This announcement came after a series of meetings with the Telangana Industries Minister K T Rama Rao and a team from the State Industries Department.

Management team Kitex Group flew down today to Hyderabad from Kerala. During the meeting, 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. He also explained about the TSIPASS Single Window clearance system and the other advantages that Telangana offers.

The delegation from KITEX gave a presentation on the group’s current activities and their future expansion plans.

After initial round of meetings, the KITEX team visited Kakatiya Mega Textile Park, Warangal and inspected the premises. TSIIC MD Venkat Narsimha Reddy and other officials gave them a tour of the Textile Park. After the visit to Textile Park, KITEX Group delegation met KTR and announced that they would be investing Rs 1000 Crores in Kakatiya Mega Textile Park.

Investment to generate 4000 jobs

KITEX CMD 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. The proposed investment to set up Apparel manufacturing facility is expected to generate 4000 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.