Telangana lures disgruntled Kerala businessman

KOCHI: Sabu Jacob, chairman and managing director of Kitex Garments, on Sunday declared that he will not invest a single rupee more in Kerala and announced his decision to invest Rs1,000 crore in Telangana state.

He said his team received a royal treatment in Telangana during the two-day visit.

“Kitex group will invest Rs1,000 crore for seting up a facility in Kakatiya Mega Textile Park in Warangal.

“This investment will generate an employment of 4000 jobs in the state of Telangana. I am obliged to five MLAS and an MP from Kerala for ‘showing the path to make crores of rupees’.

“We have faced a lot of hostility in Kerala. We will not invest a single Rupee more in Kerala. No industrialist will remain in Kerala if they hear from Telangana government,” Sabu told media persons at Cochin International Airport on Sunday.

Sabu Jacob thanked the MLAS of Kunnathunad, Perumbavoor, Muvatupuzha, Thrikkakara, and Ernakulam and Chalakudy MP for making him invest in Telangana.

However, he declined to react to the comments of Chief Minister Pinarayi Vijayan on his ‘harassment’ charges.

“Chief Minister has a special place in my heart. He has all the rights to reprimand me. I won’t make any comments on his remarks,” Sabu Jacob said.

He reiterated his charge that the atmosphere in Kerala was not conducive for launching business and said no other investor should face such an experience in the state.

According to Kitex chairman, his team realised the scope of business in Telangana ater visiting the industrial parks in the state.

Telangana Industries Minister KT Rama Rao and senior officials held multiple rounds of talks with Kitex team. The company will later decide on the expansion, he said.

Last week Sabu Jacob had announced his withdrawal from a Rs3, 500 crore investment proposal signed during the Ascend Global Investors Meet organised by the Kerala government in Trivandrum in January 2020, alleging harassment by the state government officials.