₹1,000 crore project in Telangana announced by Kitex Group

Kerala based Kitex group shall be investing ₹1,000 crores, as announced today by KT Rama Rao, TRS working president and IT minister.

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According to a report released by News18, In Kakatiya Mega textile park situated in Warangal, Telangana, Kerala-based Kitex group shall be investing ₹1,000 crores, as announced today by KT Rama Rao, TRS working president and IT minister.

To discuss setting up a textile manufacturing unit in the state, a delegation from the firm was led by Sabu M Jacob, its chairman and managing director who had met KTR in Hyderabad earlier today.

In the previous week, Jacob had mentioned that his group was withdrawing its project from the state, alleging harassment by the Kerala government officials while to know about the ease of doing business there, Jacob was asked by the Industries Minister along with senior officials to visit the state, according to the sources in the Telangana government.

Hours before the meeting with KTR, it was mentioned by the Kitex chief who has backed out from a ₹3,500 crore project in Kerala, that he was being ‘hounded out’ and did not willingly left his home state on his own. Even after he announced withdrawal from the multi-core investment project from the state, he alleged that the Kerala government authorities did not bother to interfere.

For enquiring about the reason behind his group’s withdrawal from the investment in the state, Jacob claims that not even a single Kerala minister telephoned him.