Kitex announces major investment plans worth Rs 2400 crore in Telangana

HYDERABAD: The Kitex group, which has withdrawn from projects in Kerala, has announced its investment plans in Telangana. Kitex will be investing more than double the amount that was mentioned earlier. Kitex has now announced investment plans worth Rs 2,400 crore. Kitex has promised that the projects will employ 22,000 people directly and 18,000 people indirectly. 85 percent percent of the 40,000 jobs will be given to women.

Earlier, Kitex had promised an investment of Rs 1,000 crore and 4,000 jobs during the talks with the Telangana government. Kitex attributed the doubling of investment to a strong industry-friendly environment and investor-friendly attitude in Telangana.