Kerala based Textiles Major KITEX has announced that it will invest a number of Rs 1000 Crores to set up their units in Kakatiya Mega Textiles Park.
The announcement came after a series of meetings with the Telangana Industries Minister Sri KTR and a dedicated team from the State Industries Department.
The Kitex Group Management team flew in from Kerala today in a chartered flight arranged by the Telangana State Government for a series of pre-scheduled meetings with the Minister and his team. 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 the Textiles industry in Telangana. Minister explained about the TSIPASS Single Window clearance system, and the other advantages that Telangana offers. Furthermore, the minister also stated that our State’s cotton is one of the finest in the world.
The delegation from KITEX gave a presentation on the group’s current activities and their future expansion plans.
After an initial round of meetings, the KITEX team flew to Kakatiya Mega Textile Park in a helicopter and inspected the premises. TSIIC MD Sri Venkat Narsimha Reddy and other officials gave them a tour of the Textile Park.
The KITEX team was impressed with the Kakatiya Mega Textile Park infrastructure and flew back to Hyderabad.
Later in the evening, the KITEX Group delegation met Minister KTR at Pragathi Bhavan and announced that they would be investing Rs 1000 Crores in Kakatiya Mega Textile Park. 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. The proposed investment to set up an Apparel manufacturing facility is expected to generate 4000 jobs.
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.
Industries Dept Principal Secretary Jayesh Ranjan, Commissioner Textiles Shailaja Ramaiyer, TSIIC MD Venkat Narsimha Reddy and Senior Officials from Telangana Govt participated in the meetings