KOCHI: Kitex group CMD Sabu M Jacob, who arrived at Cochin International Airport on Sunday after a three-day visit to Telangana, said that he will not invest further in Kerala. Disturbed by continuous, sudden inspections at his garment factory in Kizhakkambalam, he has decided to abandon his Rs 3,500 crore project in Kerala and invest Rs 1,000 crore to set up an apparel park at Kakatiya Mega Textile Park (KMTP) in Warangal, Telangana.
“Standing here, I’m telling you, my conscience doesn’t allow me to invest even a rupee (further) in Kerala.” When asked whether he is ready for discussions with the state government, Jacob replied that he was willing to discuss matters, even with a clerk.
Jacob made fun of the CPM MLA of Kunnathunad and Congress MLAs of Perumbavoor, Muvattupuzha, Thrikkakara, Ernakulam, and Chalakudy MP Benny Behanan for making him explore opportunities outside Kerala. “For this (investing in Telangana), I’m most obliged to Kunnathunad MLA. Apart from him, there are four other MLAs and an MP from Ernakulam who were behind this. They made me understand what being business-friendly really means and also for teaching how an industrialist can earn crores of rupees,” he said.
Jacob declined to comment on the criticism by CM Pinarayi Vijayan, and opposition leader V D Satheesan. “The chief minister commands a certain position in my mind and he has the authority to criticize or scold me. And I will never refute him or comment on his words,” he added.
Kitex team received a warm, royal reception in Telangana, Jacob said. “We visited two places – a textile park at Warangal and a general one in Hyderabad. With the industries minister, we held two rounds of discussions and finally had a round of discussions with top-level bureaucrats before leaving. During the first phase, we are planning to invest Rs 1,000 crore - that is the word we have given [to the govt of Telangana]. Next, we have to evaluate the technical and other aspects there, which we are planning to complete within a period of two weeks. Then we will decide whether to have further investments,” he said.
When asked about the call from Union MoS (electronics and IT) Rajeev Chandrasekhar, he said, “During our 15-minute talk, he gave me an invite for discussions with Karnataka CM for investments there. I have replied that I will ring him, once I am back in Kerala”.
