Govt, Kitex clothes consign Rs 2400 Cr deal: KTR
Hyderabad, Sept.18 (Maxim News): IT and Industries Minister KT Rama Rao today stated that Kitex cloth manufacturing company will set up its business in the state. Kerala based Kitex cloth company has come forward to invest Rs 2400 cr to produce clothes in the state, he said.
The State government and the Kitex cloth company MD Sabu M Jacob signed an agreement to start the business in Telangana. Kitex Cloth Company will invest Rs 2400 Cr for its business. It will start business with plants at Sitharampur in Ranga Reddy district at Warangal Textile Park.
He addressed a meeting later with ministers Sabitha Indra Reddy, Dayakar Rao and Officials.
The Minister welcomed the Kitex cloth company for its investment plan. He said that the Kitex Cloth Company has agreed to get cotton produced in about 3 lakh acres a year for its production.
The Minister asked Sabitha Indra Reddy and Dayakar Rao and Officials to take measures enabling Kitex do its business from November.
Kitex Cloth Company will offer direct jobs about 22000 persons and 18000 indirect jobs in the state, he said.
KTR offered to help and extend necessary support from the government to Kitex Cloth Company to go ahead.
About 85 percent to 90 percent jobs will be given to the women, he said and extended thanks to the MD Sabu M Jacob. It will boost the Government plan of women empowerment, the Minister noted.
KTR said that Kitex Cloth Company offered to give PPE kits worth Rs 6 Cr for the state under corporate social responsibility.
When other states invited the company, our government offered special flight to Kitex Cloth Company to come here and we explained about the hassle free mechanism and permissions for this company to start its business.
The company agreed after convincing with our support and friendly policy, he said. (Maxim News)