Telangana signs MoU with Tamil Nadu firm

Siricilla, Mar 14: The Telangana Government has signed a Memorandum of Understanding (MoU) with a Tamil Nadu based firm on Tuesday, Kay Ventures Private Limited for setting up a Rs 100 crore apparel superhub in Sircilla.

Speaking on the occasion Telangana IT and Municipal Minister KT Rama Rao said the superhub will be set up in 20 acres in Siricilla, which would be beneficial for the people of the state.

"The investment would be of Rs 100 crores and around 15,000 people will get employment, out of which around 90 percent will be women," Rao said.

Rao said also praised Chief Minister K Chandrashekar Rao for setting up the hub for the people.

"We have studied textiles in Tripura and there they have excellent opportunities so we have brought up a new scheme which will prove to be helpful," Rao said.

Kay Ventures will start skill development programmes for weavers from April.

The hub would be developed in three phases.