Telangana Textile Park To Attract Rs 9000 Cr Investments

Industry news

Telangana Textile Park To Attract Rs 9000 Cr Investments

The Telangana State Industrial Infrastructure Corporation (TSIIC) has initiated online commercial allotment of plots at the Kakatiya Mega Textile Park in Warangal. The allotment phase is expected to complete in a week’s time. The park is expected to be inaugurated in April or May. The TSIIC is expecting investments to the tune of Rs 1,075 crore in the first phase of sale. The park is spread out over 1,190 acres. TSIIC Chairman Gyadari Balamallu and Managing Director E Narasimha Reddy along with other office bearers conducted a meeting with textile entrepreneurs from Solapur, Surat, Bhiwandi and other textile hubs across the country. They have expressed interest in starting units in Telangana, to avail of the state’s textile policy benefits. They expect allotment of land and other incentives from the state government. The textile park is slated to attract investments worth Rs 9,000 crore within five years from the day of its inauguration. The state government has so far signed memorandum of understanding with 14 companies to the tune of Rs 3,400 crore.