Kerala's largest private employer, which is in the news for a feud with the State's communist government, has decided to enter Telangana with Rs 1,000 crore investment.
KITEX Managing Director Sabu Jacob and a five-member team, on Friday (9 July), visited Hyderabad by a special flight sent by the Telangana government. The company team announced its investment after meeting state Industries and Commerce Minister KT Rama Rao.
According to the plan, Kitex would invest Rs 1,000 crore to set up its factories at the Kakatiya Mega Textile Park in the Warangal district.
"Delighted to announce the entry of KITEX group, world's 2nd largest manufacturer of kids apparel into Telangana with an initial investment of Rs 1,000 crore. They've chosen KMTP, Warangal for their factories. My gratitude to Mr. Sabu M. Jacob, MD of KITEX group on a quick decision," minister KT Rama Rao tweeted.
"In principle, the Kitex Group has agreed upon a Phase- I investment of 1,000 crores within a span of two years in the textile industry for the project 'Textile Apparel' in the Kakatiya Mega Textile Park in Warangal," Kitex MD Jacob said.
"This investment will generate an employment of 4,000 jobs in the state of Telangana," he added.
Recently, Kitex Garments, the world's second-largest manufacturer of kids apparel, announced that it would be scrapping plans to open an apparel park in Kochi and other areas due to constant harassment by officials of the CPM-led government.
"Almost every day, officials of the government department descend on the premises of the company and make inquiries as if we committed a big fraud. I am fed up with continuous harassment. The government treats us like bourgeoises, exploitative capitalists and land encroachers. Enough is enough," Kitex chairman Sabu M Jacob said.
"If the situation continues like this, the State will turn into a graveyard of industries. While neighbouring states roll out red carpets for industries, we are hounding them out. No doubt, the existing climate will drive entrepreneurs to suicide," he said, adding that the latest to inspect his premises were officials from the pollution control board.
"Whoever invests in Kerala will lose peace of mind and will be driven to suicide," Sabu Jacob added.