June 17, 2024
Industry

Various Tiruppur Textile Groups To Invest Thousands Of Crores

At the recent Global Investors’ Meet (GIM) held in Chennai, Tiruppur based textile and garment groups have proposed thousands of crores of investment in the textile and energy sectors.

The Ramraj Group signed a MoU to invest Rs 1,000 crores over the next five years at the rate of Rs 200 crore per year to set up textile processing, weaving and spinning units.

After making the full Rs 1,000 crore investments, the group will have created 5,000 new job opportunities and the investments will be spread across Tamil Nadu.

The Poppys Group will set up a grain-based ethanol plant at Cheyyar at an outlay of Rs 300 crores, providing direct and indirect employment to 500 people and produce 200 kilo litres of ethanol a day.

Jeyavishnu Clothing, which is part of KM Knitwear Group, is investing Rs 330 crores in textile spinning and processing segments.

“Almost 90 percent of the commissioning work of Jeyavishnu Clothing is over and when commissioned, the project will generate over 2,500 jobs,” the Hindu reported.

SCM Garments is investing Rs 500 crores over five years to set up new garment factories, install solar and wind energy plants, and expand existing garment factories, thereby generating 9,300 new jobs.

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