Kitex To Invest Rs 2,400 Crore In Telangana
The investment is estimated to result in direct jobs to about 22,000 persons and indirect jobs to another 18,000 in the state.
Hyderabad | 18th September 2021
Telangana IT and Industries Minister K T Rama Rao today stated that Kitex, a clothes manufacturing company, would set up manufacturing units in the state.
The Kerala-based company had come forward to invest Rs 2,400 crore to produce clothes in the state, he said.
The state government and Kitex MD Sabu M Jacob signed an agreement to start the units in Telangana.
The plants will be set up at Sitharampur in Ranga Reddy district, and in the Warangal Textile Park.
"While other states too invited the company, our government offered a special flight to the Kitex executives to come here, and explained to them the hassle-free mechanisms in place to get permissions to start a business in Telangana. The company agreed after being convinced about our support and friendly policies," KTR said.
The minister promised all the possible support from the government to Kitex, and asked ministers Sabitha Indra Reddy and Dayakar Rao, and other officials, to take all the necessary steps to enable Kitex do start its manufacturing from November.
Kitex would purchase cotton produced in about 3 lakh acres a year for its production, KTR said.
It would also offer direct jobs to about 22,000 persons and indirect jobs to another 18,000 in the state, he added.
About 85% to 90% of the jobs would be given to women, which would boost the government's plan of women empowerment, the minister gushed.
He also said that Kitex had offered to give PPE kits worth Rs 6 crore to the state under its Corporate Social Responsibility activities.
filed in: Telangana, Industry & Business, K T Rama Rao, Investments, Employment