Sabu M Jacob, managing director of Kerala-based leading garment exporter, Kitex Garment Limited, will fly down to Hyderabad on Friday by a chartered flight arranged by the Telangana government to discuss a mammoth investment of Rs 3,500 crore in the State in the apparel business. Kitex Group Managing Director Sabu Jacob, who has decided to withdraw the group’s Rs.3500 crore project from Kerala and shift to other states amid continuous harassment by the state government, the Telangana government seems to be fast-tracking its efforts to attract the proposed project worth to Telengana.
Managing director Sabu M Jacob, directors Benny Joseph and KLV Narayanan, vice president operations Harkishan Singh Sodhi, CFO Bobby Michael and general manager Saji Kurian will be visiting Telangana. According to the company, the Telangana government is sending a private jet to ferry the team from Kochi to Hyderabad and back. The Kitex MD’s visit follows a direct invitation from IT and Industries Minister KT Rama Rao after several rounds of talks with officials in the past one week and the Minister himself on a couple of occasions including “one long discussion with KTR” as Jacob put it. The developments come in the wake of Jacob’s announcement on June 29 that he was pulling out of Kerala following differences with the administration there. Since then, several States have been calling the group offering business opportunities in their respective States.
The Kitex group makes products ranging from lungis and aluminium roofing sheets to spice powders and is based at Kizhakkambalam panchayat near Kochi.