Kitex going to invest Rs 1,000 crore in Telangana

Kitex

Kitex has announced an investment of Rs 1,000 crore in Telangana. Kitex MD Sabu M Jacob accepted Telangana's invitation and met Industries Minister KT Rama Rao in Hyderabad.

Kitex has chosen the Kakatiya Mega Textiles Park in Warangal for this. It is known that setting up factories there will create 4000 jobs. The Telangana Industries Minister took it to Twitter to congratulate Kitex MD Sabu M Jacob for taking such a quick decision.

Sabu M Jacob and his five-member team left for Hyderabad on a special flight sent by the Telangana government last Friday morning.

Kitex visited Hyderabad at the direct invitation of Telangana Industries Minister KT Rama Rao. A special envoy appointed by the Telangana government had also arrived at the Nedumbassery airport on a jet to receive Kitex MD.

Kitex 1

The Telangana government has given Kitex the help it needs to start a Rs 3,500 crore business that Kerala left behind for political reasons.

Arriving there, Sabu M Jacob visited Kakatiya Textiles Park and held discussions with senior officials including the Principal Secretary.

Since then, Kitex's shares have been rising sharply.