GHCL Textiles to invest Rs 535 crore in Tamil Nadu

CHENNAI: GHCL Textiles Ltd will invest Rs 535 crore over the next four years for capacity expansion and renewable energy sector in Tamil Nadu. An MoU to this effect was signed during the Tamil Nadu Global Investors Meet (TNGIM) 2024 concluded on Monday.

After implementation, the company's total investment in the state will be more than Rs 1,035 crore and its renewable energy portfolio will expand to 75 MW, a statement here on Thursday said.

R S 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. Thus amplifying our value added product basket, accelerating growth and positioning us among the top-tier industry leaders."