No follow-up by Kitex after LoI, says Minister
The Hindu
The company had said it was withdrawing from making fresh investments of ₹3,500 crore in Kerala, alleging persecution by the State government
The Kitex group of companies had given a letter of intent (LoI) for making investments to the tune of ₹3,500 crore in the State, but the group had not taken any follow-up measures after January 2020, Minister for Industries P. Rajeeve said on Thursday. Addressing a meet-the-press programme organised by the Kerala Union of Working Journalists (KUWJ) here, Mr. Rajeeve said that no MoU was signed in connection with the proposed investment.
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