GHCL to invest ₹500 cr. in T.N.

GHCL will invest ₹500 crore in Tamil Nadu to set up textile units in Tiruchi and Madurai districts.

A release from the company said it signed a Memorandum of Understanding with the State government recently to set up 40,000 ring spindles at Manaparai in Tiruchi district to produce synthetic and blended yarn.

It would install another 40,000 ring spindles with 24 knitting machines at Paravai in Madurai district to produce 100 % cotton yarn and knitted fabrics.

GHCL also proposed a 20 MW solar energy park near Musiri in Tiruchi district.

At present, 52 % of energy requirements of its yarn business was met through renewable energy sources.

When the solar park was commissioned, almost 70 % of GHCL’s spinning division requirements would come from renewable energy.

GHCL, which already had textile manufacturing facilities in Tamil Nadu, planned to commission the plant to come up at Manaparai by the first quarter of next financial year. It would invest in phases and would have commissioned all the proposed plants by the third quarter of 2024-25.

According to the release, R.S. Jalan, Managing Director of GHCL, said that going forward, the company will enhance its energy portfolio to fulfil almost 90 % of its energy requirements from renewable energy.

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Printable version | Jan 23, 2022 3:49:51 AM |

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