Korea-based Youngone Corporation, Welspun group and Gujarat-based Nandan Denim of Chiripal group have proposed to invest about Rs 2,450 crore in the newly inaugurated Kakatiya textile park in Warangal, among others.
Korea-based Youngone Corporation, Welspun group and Gujarat-based Nandan Denim of Chiripal group have proposed to invest about Rs 2,450 crore in the newly inaugurated Kakatiya textile park in Warangal, among others. While the Korean company has proposed to invest about Rs 1,000 crore, Welspun and Nandan Denim will be investing Rs 750 crore and Rs 700 crore, respectively. The state government has signed memorandum of understanding (MoUs) with 13 companies, which are going to invest in the Kakatiya Mega Textile Park, Warangal. These companies are going to invest a total of Rs 3,020 crore in the textile park. The investments will create 22,350 jobs through direct employment and 66,000 jobs indirectly.
Claimed to be the country’s largest textile park, the park is betting on the fibre-to-fashion concept. It is spread across 1,200 acres in its first phase and in total, 2000 acres at Shayampet, Chintapalli village. The park has plug-and-play factory sheds for production of clothes. An advanced level testing laboratory will be set up in the park. To control the pollution levels, the textile park will ensure zero liquid discharge facilities.
The companies which signed MoUs with the Telangana government include Suryavansi Spinning, Surya Uday Spinning Mills, Srinath Spinning Mills, Urbaknitt Fabs, Shivani Group, Ginni Filaments, The Swayamwar, Welspun Group, Yougone Corporation (overseas), Gokaldas Images, Nandan Denim (Chirpal Group), Shahi Exports, Jaycot Industries and GK Threads.
Meanwhile, eight other companies — Suryalatha Spinning Mills, Seetharam Textiles, Suryalakshmi Cotton Mills, Sri Ram Spinning Mills, GMR Spintex, Vijayalaxmi Spitex, Ashtalaksmi Spinning Mill and GTN Industries — have also signed MoUs to invest Rs 380 crore in other districts of Telangana. These eight companies are expected to create 1,450 jobs.