Kitex Group to invest Rs. 2,400 cr in Telangana; generate 22,000 jobs
Kerala-based Kitex Group has announced an investment of Rs. 2,400 crore in Telangana.
By Newsmeter Network Published on 18 Sep 2021 12:50 PM GMT
Hyderabad: Kerala-based Kitex Group has announced an investment of Rs. 2,400 crore in Telangana. The company signed an MoU with the state government to set up two integrated fiber-to-apparel manufacturing clusters in the state.
The integrated clusters will generate direct employment for 22,000 people of which 19,000 will be women. It will also generate indirect employment for around 18,000 people. The project will focus on rural employment for unskilled, semi-, and non-literate people.
Works on both the clusters will commence within the next three months in Warangal (Kakatiya Mega Textile Park) and Rangareddy (Sitarampur) districts, the company said in a press note.
The Telangana government will provide assistance to the company for land allotment, adequate infrastructure development, and by offering competitive incentives. The state will also support the setting up ESIC clinic at the project location and ESI Hospital within 10 km of the site at both the locations, the company further added.
Kitex managing director Sabu Jacob said the company will support the state in achieving its vision of developing a world-class ecosystem in textile and apparel manufacturing with a focus on creation of jobs. "In addition, we will also support the state in improving the quality of cotton cultivated here by promoting and encouraging use of better and mecanized technology," he added.
Kitex Garments Ltd. plans to donate 1,50,000 PPE kits worth Rs. 6 crore to Telangana.
Telangana's IT minister K.T Rama Rao said he spoke to Kitex Group MD Mr. Sabu Jacob after his announcement to exit from Kerala. He said he had invited Kitex Group to Telangana to explore investment opportunities in the state. "The discussion which started over a phone call has now transformed into an investment of Rs. 2,400 crore, creating 22,000 direct and 18,000 indirect employment opportunities in the region," said KTR.
Kitex is the second-largest manufacturer of children's apparel in the world.
During the MoU signing ceremony, KTR reiterated that the Telangana government will provide complete support to Kitex in setting up its units in Warangal and Rangareddy districts. He added that once the company starts operations, there is a possibility of the company purchasing cotton grown in about three lakh acres in Telangana.
KTR has asked Kitex to give more priority to local youth and women when it comes to employment. The state government will provide skill training to the locals and make them industry-ready, he added.
