Kitex announces Rs 1,000 crore investment in Telangana
Kitex Managing Director Sabu M Jacob has also assured of more investments in the State in future
Hyderabad: Kerala-based Kitex Garments Limited, a leading garment exporter, will invest Rs 1,000 crore for the setting up of a textile unit at Kakatiya Mega Textile Park in Warangal in the first phase.
Kitex Managing Director Sabu M Jacob has also assured of more investments in Telangana in the future.
“We had an excellent interaction with IT and Industries Minister K T Rama Rao. My experience with him and other officials was totally different from the discussions I have had with several other State governments (on investment opportunities),” Jacob said on Friday.
In an exclusive chat with Telangana Today after a hectic day-long activities that included a quick visit to the Mega Textiles Park in Warangal, Jacob said he will be visiting Telangana again after a couple of weeks. “There are several aspects to be discussed and decisions taken including selection of land for setting up the proposed unit in Telangana,” he said, adding that Rama Rao was magnanimous in announcing that he would accompany the company delegation to Warangal the next time, stay put with them for a day or two and bring in all the officials including the District Collector for discussions.
Asked about his experience of meeting with Rama and the officials, Jacob, who will hold another round of talks with officials on Saturday besides visiting some industries, said: “The Minister is very aggressive, in that he wants to bring in investments into the State and generate employment. He seems to take a personal interest in whatever he is doing.”
The State government arranged a special chartered flight to fly in the company’s delegation led by Jacob. The development followed Kitex evincing keen interest in investing in the State, and the meeting between the Minister and the company management discussed various aspects of the investment.
Industries Minister K T Rama Rao interacting with Kitex MD Sabu M Jacob
The Kitex delegation, in the course of discussion with Rama Rao and officials, said it was impressed by Telangana investment-friendly policies and conducive atmosphere for promotion of the textiles industry in the State. “We will positively consider the decision to invest in Telangana. It is rare for a State government to act as swiftly and take decisions pertaining to investments as the Telangana government is doing,” the company delegation said.
Rama Rao, who explained the investor-friendly policies of the State, specifically briefed about the TS-iPASS single window approval system, quality power supply, extensive cotton cultivation in the State among other aspects. The proposed investment by the company will get mega project status under TS-iPASS and accordingly, tailor-made incentives would also be offered by the State government, the Minister informed the delegation.
In turn, the delegation briefed the Minister about the company’s affairs and said as per its expansion plans, possibilities were being explored to make huge investments outside Kerala. The delegation appreciated the warm reception extended by the Telangana government in response to the company’s investment plans.
Later, the delegation visited the Kakatiya Mega Textiles Park, Warangal, by a special flight arranged by the State government. The delegation said it was the biggest textile park in the country.
Also read:
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