Kitex Plans Rs 1000 Crore Investment In Telangana

Company Performance

Kitex Plans Rs 1000 Crore Investment In Telangana

Kitex Group has announced Phase-1 investment of Rs 1000 crore in Telangana. The investment will be made over a span of two years, said Sabu Jacob, Managing Director, Kitex Group. The investment will be made in 'textile apparel' in Kakatiya Mega Textile Park in Warangal. The investment is expected to generate 4,000 jobs in the state. Telangana's minister for industries, K Taraka Rama Rao had presented the Kitex Group with "an overview of the progressive investment policies of the state government and also the availablity of various resources for textile industry". Telangana cotton is one of the finest in the world, Rao impressed upon the Kitex team. The minister also explained TSIPASS single window clearance system and other advantages that Telangana offers. KITEX Managing Director Sabu Jacob and a five-member team flew to Hyderabad last week by a special flight sent by the Telangana government for discussions. Other states including Tamil Nadu, Karnataka, UP, Gujarat, Madhya Pradesh, Maharashtra, Madhya Pradesh, Odisha, Andhra Pradesh, Assam have also offered incentives to KITEX for its project. With 15,000 people on its payrolls, KITEX is Kerala's largest private sector employer in the industrial sector. An apolitical forum floated by it, Twenty20, has been contesting local body elections since 2015, and holds power in Kizhakkambalam panchayat in Ernakulam, where its units are housed. In 2020, Twenty20 had retained Kizhakkambalam and won three other nearby panchayats.