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The Kitex Garments board of directors had approved the increase in investment on September 13.
The group recently signed memoranda of understanding (MoUs) with the Telangana government for two major investment projects.
"The Telangana government has offered many subsidies for the Kitex group," the company said in a press release.
The company had decided to drop its ₹3,500-crore investment project in June this year, declared during Ascend Kerala Investment Summit in January 2020 because of continuous surprise inspections by bureaucrats from various departments. The projects included an apparel park employing 20,000 and three industrial parks at Kochi, Thiruvananthapuram and Palakkad.
Fibre2Fashion News Desk (DS)
.jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "UBM China (Shanghai)")
-Ltd..jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Thermore (Far East) Ltd.")
