Kitex Chairman Sabu M Jacob who has withdrawn his investments from Kerala said that he was floored by the way the Industries Minister K Taraka Rama Rao presented himself and also the investment opportunities in the state of Telangana.
A special Jet was sent to Kerala by the Telangana Government for Jacob and his team to visit Telangana. Now Jacob has decided that he will increase in the investment in Telangana.
“My conscience now does not permit me to invest even a rupee in Kerala ever again,” Jacob said, adding that he has plans to initially invest Rs 1,000 crore in Telangana and had given assurances to the State to that effect.
The Kitex chairman said an aerial survey of the industrial parks and the facilities was facilitated by the Telangana State government and before leaving, he had discussions with the IT and Industries Minister K T Rama Rao and other officials.
After technical evaluations are carried out within the next two weeks, a call would be taken on whether to increase the investment in Telangana, he said.
Jacob said his company has decided that by the end of this month, a final agreement with Telangana will be arrived at and thereafter, within the next two years, a certain amount of money would be invested in the State.
