GHCL Textiles spins Rs 535 crore into Tamil Nadu's textile future

GHCL Textiles has recently inked a Memorandum of Understanding (MoU) with the Government of Tamil Nadu, marking a significant investment commitment of Rs 535 crore at the Global Investors Meet 2024. Over the next four years, the infusion of funds will be strategically allocated for augmenting capacity, diversifying the product portfolio, and integrating vertical processes in textile manufacturing, encompassing both knitted and woven finished fabrics. Additionally, a notable portion of the investment will contribute to enhancing the company's green energy portfolio.

This comprehensive MoU encompasses not only capacity expansion but also emphasizes a substantial investment in renewable energy within the state. Upon successful implementation, GHCL Textiles' cumulative investment in Tamil Nadu is projected to exceed Rs 1,035 crore, accompanied by a remarkable expansion of its renewable energy portfolio to 75 MW. This initiative is poised to significantly broaden the company's value-added product range, fostering accelerated growth.

GHCL Textiles currently boasts a formidable capacity, featuring 2,25,000 ring spindles, 3,320 rotors, 480 vortex, and 5760 TFO spindles. Adhering to stringent quality norms and rigorous process control measures, the company possesses the capability to tailor-make products tailored to specific applications, thereby servicing buyers in both domestic and international markets.

News by Rahul Yelligetti