GHCL Textiles Ltd., a leading manufacturer and supplier of 100% Combed Cotton Compact Ring Spun yarns, Cotton Open End yarns, 100% Synthetic and Blend Ring Spun yarns, Vortex yarns and TFO yarns signed an MOU with the Government of Tamil Nadu for an investment of Rs.535 crores on 8th January, at the Global Investors Meet 2024. The MoU was signed in the presence of Honorable Chief Minister M K Stalin, senior ministers, and officials of the Government of Tamil Nadu. GHCL Textiles was represented by Mr.R.Balakrishnan, CEO and Mr.N.Rajagopal, Sr.GM (Technical).
Commenting on the investment, Mr. R S Jalan, Director, GHCL Textiles said, “It is our honor to be a part of the state and India’s growth journey. These investments are in line with our promise to consistently deliver value for our stakeholders through sustained expansion in earnings. 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. Thus amplifying our value added product basket, accelerating growth and positioning us among the top-tier industry leaders.”
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.1035 crores and its renewable energy portfolio will expand to 75 MW.
GHCL Textiles Limited, established in 1927 as Sri Meenakshi mills, was a part of GHCL Limited till its demerger in April 2023. Recognized for its customer focus, the company has evolved into a leader in the spinning industry and boasts of a variety of products that adhere to global standards and international quality benchmarks. With a capacity of 225000 Ring Spindles, 3320 Rotors, 480 Vortex & 5760 TFO Spindles, the company produces a wide range of products to fulfil the needs of a variety of customers. With clearly defined quality norms and strict process control, it has the capability to tailor-make products to suit specific applications and service premium buyers in domestic and international markets.