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.

 

 
Copyright 2020 Ptj.com.pk   Design: PTJ Graphics