Royal treatment in Telangana, will not invest another rupee in Kerala: Kitex Chairman Sabu Jacob

Kochi: Chairman and Managing Director of Kitex Group, Sabu M Jacob on Sunday clarified that his company would not invest another rupee in Kerala.

"We have faced a lot of hostility in Kerala," Jacob said, adding that he was given royal treatment during his business visit in Telangana.

The group will invest Rs 1000 crore for setting up a facility in Kakatiya Mega Textile Park in Warangal, Jacob informed.

Meanwhile, the Kerala-based group's chairman also refused to respond to Chief Minister Pinarayi Vijayan's remarks on the matter. Jacob also thanked the Kunnatunad MLA and other MLAs from Perumbavoor, Muvattupuzha, Thrikakkara and Ernakulam constituencies and Chalakkudy MP for their help.

Rs1000 crore investment in Telangana

A delegation from Kitex group, led by its Jacob, met Telangana's IT and Industries Minister KT Rama Rao and discussed setting up a textile manufacturing unit in the State, an official release said.

This investment will generate an employment of 4000 jobs in the State of Telangana,"the release quoted Jacob as saying.

Alleging harassment by the Kerala government officials, Jacob had last week said his group was withdrawing its Rs 3,500 crore project from the State.

Sources in the Telangana government said the Industries Minister and senior officials had asked Jacob to visit the State to know about ease of doing business there.

The Kitex group expressed satisfaction over the state government's industry friendly policies and appreciated the 'quick' decision making attitude on investments in Telangana.

He reiterated his charge that the atmosphere in Kerala was not conducive for launching business and said no other investor should face such an experience in the state.

Kerala industries minister P Rajeev, however, rejected the charges, saying the state has a conducive atmosphere for launching industries and young investors in various start-ups would tell their better experience with the state government.

Kitex Garments Ltd had said it has decided to withdraw from the project signed during the "Ascend Global Investors Meet" organised by the Kerala government in Thiruvananthapuram in January 2020,alleging that it was difficult for the company to run the existing industrial units in the state.

Jacob had alleged that various units of Kitex were raided 10 times by officials from various departments during the past one month.