State inks 14 MoU with textile companies

Agreements envisage an investment of over ₹3,000 crore

October 23, 2017 07:44 am | Updated 07:44 am IST - Warangal Rural

An industrialist inking an MoU with the State Government  in Warangal on Sunday.

An industrialist inking an MoU with the State Government in Warangal on Sunday.

As many as 14 textile companies signed MoUs with the State Government to set up their units in the proposed mega textile park here.

The agreements envisage an investment of over ₹3,000 crore, which will provide direct employment to more than 20,000 people and indirect employment to about 40,000 people.

Addressing the entrepreneurs who came forward to invest in the upcoming mega textile park, Industries Minister K.T. Rama Rao thanked and assured them that the State Government would provide very conducive environment to carry on their business. The State Government moves forward with the slogan “Farm to fashion” where cotton is produced and used here to make various types of garments at one place, he said.

A training centre would also be set up at park, he said. The park would provide employment to skilled, semi-skilled and unskilled workers, the Minister said. Deputy Chief Minister K. Srihari too thanked the businessmen for investing in Warangal. The textile park has come as a blessing to farmers, weavers and people of Warangal. It will bring back the glory of good old days by creating employment to local people, he said.

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