The influx of investment continues to Telangana.Leading companies are investing heavily in Telangana.
Recently, another industry has come forward to invest in Telangana.Kitex Group has decided to invest Rs 2,400 crore in Telangana.
To this extent, the company today has signed a Memorandum of Understanding with the Government of Telangana.
Kerala-based textile company Kitex Group is all set to set up a plant at Kakatiya Textile Park in Warangal, Chandanvelli, Sitarampur in Rangareddy district.
Ministers KTR, Sabita Indrareddy, Errabelli Dayakar Rao, Industries Principal Secretary Jayesh Ranjan, Kitex Group MD Sabu M Jacob and a senior delegation of the company were present at the MoU.
Speaking on the occasion, Minister KTR thanked Kitex Group for its investment in the state.With this, 22000 direct jobs will be created and another 20,000 indirect jobs will be created.After the establishment of this plant, the company is likely to purchase about three lakh acres of Telangana cotton.
The company said it would carry out training activities on behalf of the government so that locals would have more opportunities in job creation.
Therefore, KTR advised the district representatives to coordinate with the local women’s associations.
Kitex will provide PPE kits worth Rs 6 crore under CSR.