Kitex is invited to invest in Sri Lanka after Bangladesh

Doraisamy Venkateswaran, Sri Lanka’s deputy high commissioner to India, has invited Kitex to invest in the island nation.

After Kitex announced its plan to drop a 3,500 crore proposed project in Kerala, Sri Lanka is the second country to extend an invitation to invest. Bangaladesh had previously invited Kitex to invest after learning of the company’s dispute with the Kerala government.

Sri Lanka’s deputy high commissioner had met with Kitex Managing Director Sabu M Jacob. The deputy high commissioner, according to Kitex, offered excellent infrastructure facilities for investment in Sri Lanka.

Kitex announced investment plans in Telangana worth Rs 1000 crore soon after the controversy in Kerala. A high-level Madhya Pradesh Industries Department delegation recently visited Kitex’s headquarters, offering excellent infrastructure facilities for investment in their state.

Kitex has also been invited to invest in Andhra Pradesh, Karnataka, and Tamil Nadu by their respective governments.

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