GHCL Textiles Investing Rs 535 Crore To Expand Capacity In TN
GHCL Textiles Ltd., a manufacturer of various varieties of yarns signed an MOU with the Government of Tamil Nadu for an investment of Rs 535 crores on at the just concluded Global Investors Meet 2024.
GHCL is a manufacturer of combed cotton compact ring spun yarns, cotton open end yarns, synthetic and blend ring spun yarns, Vortex yarns, etc.
The MoU entails investments for capacity expansion as well as investments in renewable energy in Tamil Nadu.
“Once implemented, GHCL Textile’s total investment in the state will be over Rs 1,035 crores and its renewable energy portfolio will expand to 75 MW,” the company said in a press release.
“It is our honour to be a part of the state and India’s growth journey,” RS Jalan, Director, GHCL Textiles said while commenting on the investment.
“These investments are in line with our promise to consistently deliver value for our stakeholders through sustained expansion in earnings,” he added.
“The investments will be used for capacity and product basket expansions, add knitted and woven fabrics and also expanding green energy portfolio,” he stated.
“Amplifying our value added product basket will accelerate growth and position us among the top-tier industry leaders,” Jalan observed.
