Youngone Corp turns first sod to set up 11 units in India's Telangana
20 Jun 23 1 min read
Insights
- Youngone Corp recently turned the first sod to set up 11 factories as part of its Evertop Textile & Apparel Complex Pvt Ltd at the Kakatiya Mega Textile Park in India's Telangana state.
- The South Korean textile giant will build four factories and create nearly 6,000 jobs in the first phase of the 900-crore project.
- The rest seven will come up later.
The company, which has acquired 290 acres at KMTP, will build four factories and create nearly 6,000 jobs in the first phase of the 900-crore project. The rest seven will come up later in subsequent phases.
"The Youngone facilities at KMTP will focus on manufacturing sportswear, knitting, textiles, dyeing and finishing as well as poly products and would create as many as 21,000 jobs," state information technology and industries minister KT Rama Rao told the gathering at the ceremony.
South Korean ambassador to India Chang Jae-Bok and Youngone Corporation chairman and chief executive officer Kihak Sung were present at the ceremony.
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The garments would be exported to markets around the world, including the United States and Europe, media reports from the state said.
A share of the jobs at the factories would be reserved for locals, especially women, the minister added.
Fibre2Fashion News Desk (DS)
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