Hyderabad would be an inspiration to all businessmen and industrialists : Sabu M Jacob

staff Reporter

HYDERABAD : Kitex Group chairman Sabu M Jacob on Sunday said if the people in Kerala come to know of the facilities and offers given to him by the Telangana government, not a single business or industry would remain in the Kerala. “The trip that I undertook to Hyderabad would be an inspiration to all businessmen and industrialists here,” he said.

Speaking to the media after landing at the Cochin International Airport in Nedumbassery here, He said he will be holding a press meet on Monday to give further details regarding his investment plans in Telangana and the offers made to him by the State government.

“My conscience now does not permit me to invest even a rupee in Kerala ever again,” Jacob said, adding that he has plans to initially invest Rs 1,000 crore in Telangana and had given assurances to the State to that effect.

The Kitex chairman said an aerial survey of the industrial parks and the facilities was facilitated by the Telangana State government and before leaving, he had discussions with the IT and Industries Minister K T Rama Rao and other officials. After technical evaluations are carried out within the next two weeks, a call would be taken on whether to increase the investment in Telangana, he said.

Jacob said his company has decided that by the end of this month, a final agreement with Telangana will be arrived at and thereafter, within the next two years, a certain amount of money would be invested in the State.

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