Youngone Corporation manufactures synthetic jackets, boots, tracksuits, and other apparel for hiking.
UPDATE – 10:53 PM, Saturday – Dec 10 22
Manufacturing unit at Kakatiya Mega Textile Park (KMTP) near Warangal
Warangal: With the state government promising to expedite the establishment of textile units in the Kakatiya Mega Textile Park (KMTP) to create jobs for the locals, major companies have also accelerated the process of setting up factories in the park.
As part of this, South Korean textile giant Youngone Corporation will lay the groundwork for a factory by January 2023, said R Santosh Kumar, regional manager of Telangana State Industrial Infrastructure Corporation (TSIIC). While five of Youngone Corporation’s plants will start in January 2023, a second phase will build three more plants.
Youngone Corporation manufactures synthetic jackets, boots, tracksuits, and other apparel for hiking. With 267 acres of land allotted for Youngone, the company plans to invest Rs 3,000 crore.
“Youngone Corporation has requested to apply for another 30 acres of land,” Suresh Kumar told “Telangana Today”, adding that Youngone will create more than 20,000 jobs.
On the other hand, Kerala-based Kitex Group has reportedly decided to increase its investment from Rs 1,000 crore to Rs 2,400 crore. It is estimated that Kitex Group will indirectly create 22,000 direct jobs and another 20,000 jobs. TSIIC has allocated a total of 177 acres of land to Kitex Group.
“At the same time, 35 individuals (weavers) have also submitted applications to TSIIC for allotment of plots at KMTP for establishment of small industries. Many of them are from Maharashtra known for textile and textile industries Solapur returned home as they were impressed with the state government’s measures,” ZM said, adding that plots of 500 to 700 yards would be allocated to these applicants shortly after being vetted.
TSIIC will acquire 27 acres in addition to the 1,340 acres already acquired for KMTP.
“The enjoyment survey has been completed and the land acquisition notice has been issued,” Suresh Kumar said.
IT and Industry Minister KT Rama Rao inaugurated the first phase of the Ganesha Ecosphere project at Kakatiya Mega Textile Park in May this year. The polyethylene terephthalate (PET) bottle recycling company has invested around Rs 350 crore in making products such as recycled polyester fibers and yarns. The two 50-acre facilities will recycle PET bottle waste into high-quality products in compliance with United States Food and Drug Administration (USFDA) and European Food Safety Authority (EFSA) specifications. Once fully operational, the plants will directly support more than 1,000 jobs and consume approximately 60,000 tonnes of waste PET bottles per year, thereby contributing to the state government’s vision of sustainable development for Telangana.
“While the fabrication of the first unit of Ganesha Ecosphere started in May this year, the production of the other unit only started recently,” the official said.
Work on internal roads and power lines has been completed, according to officials. Efforts are underway to secure potable water supply through the Mission Bhagiratha scheme to supply 12 MLD of water at an estimated cost of Rs 1 billion. The Chalivagu project is laying a dedicated pipeline to meet industrial needs.
“The construction of a dedicated 220KV substation at a cost of Rs 1.78 billion is in progress. TSIIC is also laying pipelines to supply a type of MLD water,” said Suresh Kumar.
