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Kitex group signs MoU with Telangana govt for Rs 2,400 Cr investment

On its part, the Telangana government has offered prompt land allotment for the group, besides setting up a common effluent treatment plant, ESIC clinics at the project sites and ESI hospitals within 10 km of both manufacturing units.

By: Express Web Desk | Hyderabad |
September 18, 2021 9:43:32 pm
Sabu M Jacob, the chairman and managing director of the Kitex group, credited Telangana industries minister KT Rama Rao for convincing him to choose Telangana. (Photo: Twitter/@KTRTRS)

Kerala-based garments major Kitex group and the Telangana government signed an MoU on Saturday for setting up two integrated fibre-to-apparel manufacturing clusters in the southern state. The Kitex group, which earlier announced plans to invest Rs 1,000 crore in an apparel park in Warangal, will now invest Rs 2,400 crore in Telangana.

Company sources said that work on both the clusters will commence within three months. One cluster will come up at the Kakatiya Mega Textile Park in Warangal and the other at Sitarampur in Rangareddy district. The integrated clusters will generate direct employment for 22,000 people and indirect employment for 18,000 people.

Talking about his decision to invest in Telangana, Sabu M Jacob, the chairman and managing director of the Kitex group, said he received invitations from almost every state in the country and even abroad, when he decided to leave Kerala and withdraw a proposed investment of Rs 3,500 crore. Jacob credited Telangana industries minister KT Rama Rao for convincing him to choose Telangana and said: “I asked the minister what he was looking for. Investments or employment? Within seconds, he replied, ‘I need employment’. That shows his commitment to the state and the people of Telangana.”

He added, “I had initially committed to invest Rs 1,000 crore and employ 4,000 workers. Today, I am glad to announce that I have met more than his expectations and increased the quantum of investment from Rs 1,000 crore to Rs 2,400 crore. This will generate employment for 22,000 people.”

On its part, the Telangana government has offered prompt land allotment for the group, besides setting up a common effluent treatment plant, ESIC clinics at the project sites and ESI hospitals within 10 km of both manufacturing units.

The industries minister has asked the Kitex group to give priority to locals for employment and assured skill training for the residents to make them industry-ready.

On Friday, the state government also inked three MoUs with Gloster Ltd, MBG Commodities Pvt Ltd, and Kaleshwaram Agro Pvt Ltd for setting up modern-integrated jute mills in Telangana, which will bring a cumulative investment of Rs 887 crore. The proposed jute mills are expected to create direct employment for about 10,400 people.

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