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Telangana invites Korean textile majors to invest in Warangal textile park

YarnsandFibers News Bureau 2017-08-17 10:00:00 – Hyderabad

The delegation from the Korea Federation of Textile Industries (KOFOTI), led by its chairman and Youngone Corporation chief Kihak Sung, who is in India to explore the business and investment opportunities in the country on Wednesday met the Telangana Industries and IT Minister, K T Rama Rao. He invited textile giants in South Korea to consider investing at the upcoming Kakatiya Textile Park in Warangal.

At a meeting held in Hyderabad on Wednesday with the KOFOTI, the minister explained the project features and benefits in setting up units in the Park and sought the Federation to be the anchor investor. He made a presentation of the facilities that are coming up at the 2,000-acre park which will host both national and international textile companies and also explained to them about the incentives that the State Government offered to new industrial units.

KTR said that the State government will give best amenities and ecosystem for manufacturers to operate in the Park than other State. Customised facilities could also be provided for the facilities.

To provide skilled manpower to the textile companies operating in the Park, the State government will create a training centre where the textile workers will be given special training for the improvement of the production due to which Telangana State is getting labourers according to its need.

The minister also explained the unique features of the State’s industrial policy that has helped bringing more investments. He hinted at the possibility of allocating a certain portion of land in the Park for the Korean companies.

KOFOTI chairman Kihak Sung who was enthused by the encouragement given to the textiles in the State, sought details on the logistics facilities around the Park. KTR assured to the delegation that the State will pursue with the Centre for making the airstrip in Warangal operational.

Telangana IT and Industries principal secretary Jayesh Ranjan, Handlooms and Textiles director Shailaja Ramaiyer also interacted with the Korean delegation that has come on a two-day visit to Telangana. The delegation will be visiting the existing units in the State, according to an official statement.

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