Telangana Government enters MoU with Kitex Group to invest Rs 2,400 cr

News, Telangana News

Hyderabad: Telangana Government enters MoU on Saturday with Kitex Group of textiles to setup integrated fibre to apparel manufacturing clusters at the Kakatiya Mega Textile Park in Warangal and Sitarampur in Rangareddy district.

The MoU was signed by Jayesh Ranjan, Principal Secretary (Industries), government of Telangana, and Kitex Group Chairman and Managing Director Sabu M Jacob in the presence of Industry Minister K.T. Rama Rao, Panchayat Raj Minister E. Dayakar Rao and Education Minister P. Sabitha Indra Reddy.
Kitex Group will invest Rs 2,400 crore in Telangana to set up two integrated fibre to apparel manufacturing clusters. The group, which had announced Rs 1,000 crore investments in July, has expanded its investment plans. The investment will provide direct employment to 22,000 people and indirect employment to 18,000 people.
Kitex manufactures products for 0to 24month old babies. Kitex MD Jacob on the occasion said that he expects that three million pieces will be shipped from Telangana to the US market.
When we decided to quit Kerala and withdrew our investment of Rs 3,500 crore, I got invitations from all the states in India and other countries too, he said.

He said that he is in Telangana because of K.T. Rama Rao, who was the first person to call him and personally invite him. KTR said Jacob told him that he would kick start the unit in Warangal in November 2022. He also assured all support to the company in setting up both the plants. He thanked Jacob for announcing 150,000 PPE kits worth Rs 6 crore for Telangana under corporate social responsibility.

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