Korean textile giant Young one to set
up INR 9 billion facility in Telangana
Korean textile and apparel major Young one
Corporation will invest more than Rs 9bilion in the Kakatiya
Mega Textile Park (KMTP) coming up in Telangana's Warangal
district. The company signed an agreement with the government of
Telangana in this regard.
The agreement was signed in the presence
of Telangana's Industries Minister, K.T. Rama Rao, Indian
Ambassador to Korea, Sripriya Ranganathan, and Korean Ambassador
to India, Ashin Bongkil.
Youngone Corporation will set up its
facility on 290 acres to involve the manufacture of knitted and
woven garments for outdoor wear and technical textile products,
predominantly for exports. It is estimated that more than 12,000
direct jobs will be created through this project.
Rama Rao welcomed Young one Corporation
and stated that this anchor investment is expected to catalyze
more investments in KMTP as well as more Korean FDI in the
textile and other sectors in Telangana.