CM Revanth promotes Warangal textile park as top investment spot in Telangana for Korean companies 

Industries Minister D. Sridhar Babu will constitute a task force that will follow up on all the opportunities for quick closures and action on ground.

On the first day of his visit to South Korea, Chief Minister A. Revanth Reddy pitched for investments into the Mega Textile Park in Warangal at a meeting with the Korea Federation of Textile Industry (KOFOTI) and also invited the LS Group, which was part of the electronics giant LG group earlier.

Projecting Warangal as an ideal destination for textile investments, Mr. Reddy urged the KOFOTI representatives to choose Warangal and also other parts of Telangana. The meeting included Kihak Sung, chairman of Youngone, Soyoung Joo, executive vice-chairman, KOFOTI, and top leaders of 25 major textile companies.

Industries Minister D. Sridhar Babu will constitute a task force that will follow up on all the opportunities for quick closures and action on ground.

Earlier, the Telangana delegation held a meeting with LS Corp, which was formerly a part of the LG group. The CM’s team also met with the chairman of LS Group, Koo Ja Eun, and his senior leadership. “Our talks covered broad interests, including manufacturing investments in Telangana for electric cables, gas and energy, and batteries,” Mr. Reddy said.

The Chief Minister said the LS team will visit Telangana shortly, on his invitation: “I am very positive that we will formally welcome them to Telangana as investors in the coming days.”

Later, the CM’s team met with Hyundai Motor Company officials, who informed about their decision to set up a car testing facility in Telangana through its subsidiary Hyundai Motor India Engineering Pvt. Ltd. (HMIE).

The HMIE also plans to establish a large Mega Test Centre, which will include not only an automotive test track facility but also a state-of-the-art test car manufacturing facility (including electric vehicles). The test centre is likely to attract other affiliates and suppliers to set up their facilities in the vicinity. This will help to create both direct and indirect employment opportunities.