Rs 3500 cr worth project: Kitex team to visit Telangana for discussion

Kochi: The Kitex Group is going to Telangana to discuss about the Rs 3500 crore worth business project which they withdrew in Kerala. A 6-member team headed by Kitex MD Sabu Jacob will go to Hyderabad on Friday as invited by Telangana government.

Meanwhile, Sabu Jacob told Mathrubhumi.com that he stands firm on his previous statement that Kerala is not industry-friendly state and that no change has occurred within two days.

We had held talks with Telangana industries minister and they showed interest. A special representative of the Telangana government will arrive in Kochi on Friday. Our team is going to Hyderabad to discuss the matter in detail, he added.

The Kitex team will be going to Hyderabad in a special jet sent by the Telangana government. 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 part of the team.

Earlier, Telangana industries minister T Rama Rao and other high level officials had held talks with Sabu Jacob over telephone. Following this, they invited the company to Hyderabad for a meeting. Sabu Jacob said that after he declared about withdrawal of the project in Kerala, 9 states contacted him for investing in their projects and put forward attractive offers.