Kitex investing 3,000 cr in Telangana
Kitex Group CMD Sabu Jacob (L) with KTR, Jayesh Ranjan and CII Telangana members
Hyderabad: Kerala-based textile manufacturer Kitex Group, which initially planned to invest Rs 1,000 crore, has announced an overall investment of Rs 3,000 crore in Telangana due to the proactive response from the State government.
It is going to provide employment to 28,000 people, with 80 per cent being local women, says Kitex Group Chairman and Managing Director Sabu Jacob during CII Annual Session. He mentioned that textile industry is primarily a labour intensive sector and few thousands of jobs especially for women will be created.
The company is setting up plants at Kakatiya Mega Textile Park in Warangal and at Sita Rampur. The company has moved out of its home State - Keralatwo years back, and it has increased its investment in Telangana from Rs 1,000 crore to Rs 3,000 crore over the period.