Hyderabad, June 19 (KNN) South Korea’s textile major Youngone’s will be setting up 11 factories at Kakatiya Mega Textile Park (KMTP) in Warangal district of Telangana.

Speaking at the ground breaking ceremony of Youngone’s 11 factories at the KMTP, Industries and IT Minister K.T.Rama Rao said, “Setting up of the Kakatiya Mega Textile Park (KMTP) is a significant step in the direction of fostering the sector’s growth, generating substantial employment opportunities and reviving the past glory of the erstwhile composite Warangal district as a major textile powerhouse.”

The Industries minister pointed out that Youngone factories at KMTP will generate employment for around 21,000 people. Four factories will be set up in the first phase providing employment to nearly 6,000 people and seven more factories will come up in subsequent phases.

The Centre, belatedly, launched the PM MITRA scheme, inspired by the KMTP, Rao said, asserting that the Telangana government was at the forefront of implementing a plethora of path-breaking schemes, heralding all-round development of the State and people’s welfare.

South Korean Ambassador to India Chang Jae-bok, Youngone Corporation’s chairman and CEO Ki-Hak Sung were amongst those present at the event.  (KNN Bureau)