14 companies to invest in Kakatiya Mega textile park

The Kakatiya Mega textile park coming up on 2,000 acres in Telangana’s Warangal district, foundation of which was laid on Sunday, saw the state government inking Memorandum of Understanding (M0U) with 14 private companies, who have come forward to set up units with a total investments to tune of Rs 3,020 crore.

Two institutes ¬- textile training college of PSG College, Tamil Nadu and National Institute of Fashion Technology, Hyderabad – also inked MoU for setting up their centres in the textile park.

The government also inked MoUs with eight other textile companies to expand their units in other districts of the state. These units are likely to invest Rs 3,080 crore for the expansion.

Youngone Corporation of Korea will also be setting up a unit with an investment of Rs 1,000 crore. Nandan Denim (Chiripal Group) will invest Rs 700 crore. To ensure zero liquid discharge to control environmental pollution, an advanced testing laboratory will also be set up soon.

Speaking on the occasion, Handloom minister KT Rama Rao said that Kakatiya Mega Textiles Park will become one of the biggest apparel parks in the country and Warangal will become another financial capital of Telangana as part of decentralisation process. It would provide over 1 lakh direct and indirect employment. The project’s first phase will come up on about 1,200 acres at Shayampet and Chintapalli villages.

Telangana is one of the largest producers of long staple cotton at around 60 lakh bales per annum. The state was third in the country in cotton production during 2015-16. Telangana is known for skilled textile workers.