Telangana seeks Rs 898 crore from Centre for textile

Telangana government has sought about Rs 898 crore from the Centre for creating infrastructure at the Kakatiya Mega Textile Park (KMTP) coming up in Warangal.

State Minister for IT and Industries KT Rama Rao submitted a memorandum to Union Minister for Textiles Smriti Irani in New Delhi on Tuesday, an official press release said here.

The Telangana government has also submitted the required documentation sought during the PAC (Project Approval Committee) meeting.

The government asked the Centre to sanction Rs 897.92 crore for infrastructure at the textile park, and also early approval of the project, the release said.

Rao requested the Union Minister to also finalise the policy for Development of Manufacturing Regions for Textile and Apparel Sector (MRTA) so that projects like KMTP can be benefited and can have a positive impact on the development of the textile sector, it said.

The KMTPis in line with the draft policy of MRTA of the Ministry of Textile aimed at establishing manufacturing facilities for domestic and export-led production in apparel and other textile-related sectors, the release said. The park has already received the commitment of FDI totalling USD 145 million from Youngone Corporation, South Korea, and the Telangana government has signed memoranda of understanding for Rs 3,020 crore with 14 large textile/ apparel companies, the release added.