GHCL Textiles to invest Rs 535 crore in TN
The MoU entails investments for capacity expansion as well as investments in renewable energy in the state.
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CHENNAI: GHCL Textiles has signed an MoU with the TN for an investment of Rs 535 crore at the recently-held Global Investors Meet 2024. The MoU entails investments for capacity expansion as well as investments in renewable energy in the state.
Once implemented, GHCL Textile’s total investment in the state will be over Rs 1,035 crore and its renewable energy portfolio will expand to 75 MW.
RS Jalan, director, GHCL Textiles said, “Over the next four years, the investments will be used for capacity and product basket expansions, vertical integration of textile manufacturing to include knitted and woven finished fabrics as well as the enhancement of Green energy portfolio.
This will amplify our value added product basket, accelerate growth and position us among the top-tier industry leaders.”