WARANGAL: Laying the foundation stone Youngone and Evertop Textile and Apparel Complex Pvt Ltd in the Kakatiya Mega Textile Park (KMTP) in the presence of Chang Jae-bok, the Ambassador of the Republic of Korea to India, and Youngone CEO Kihak Sung, Industries Minister KT Rama Rao said that the company intends to establish 11 factories within the KMTP, creating approximately 21,000 jobs for the locals.
The focus of the company will be on empowering women, who are expected to comprise 80% of the workforce. It will provide support to women and their children through the establishment of daycare centres and transportation facilities within the KMTP, Rama Rao said.
In the initial phase, Youngone will set up four factories, generating 4,000 jobs. Notably, the KiTex facility, established earlier, has already provided 12,000 jobs, and Ganesha Ecopet Pvt Ltd has created another 1,000 job opportunities, indirectly resulting in a total of 60,000 jobs within the KMTP.
Addressing the gathering after laying the foundation stone, Rama Rao accused the Centre of replicating various welfare and developmental schemes like the KMTP, Mission Bhagiratha, TS-iPASS, Rythu Bandhu, and Mission Kakatiya which were conceived and implemented by the Telangana government.
Emphasising the historical significance of Warangal as a cotton-growing region known for its superior quality produce, Rama Rao point to the Azam Jahi Mills, which was established by the Nizam for garment manufacturing. Stating that Chief Minister K Chandrasekhar Rao was aware of the mill’s history and the impact it had on the livelihoods of weavers and their families, Rama Rao said that this inspired KCR to establish the KMTP, spread across 1,350 acres, in 2017.
Youngone CEO Kihak Sung expressed gratitude to Rama Rao for his support and stated that the decision to establish a company in the KMTP was based on extensive surveys conducted in Telangana regarding textile manufacturing possibilities. Ambassador Chang Jae-Bok praised the economic growth and leadership of Telangana and announced that Youngone intends to establish 11 companies in the State.
A force of nature
The focus of Youngone will be on empowering women, who are expected to comprise 80% of the workforce.
In the 1st phase, Youngone will set up 4 units, generating 4,000 jobs
KiTex, established earlier, has generated 12,000 jobs and Ganesha another 1,000