GHCL Textiles announces Rs 535cr investment in Tamil Nadu for expansion and renewable energy

In a major industrial development, GHCL Textiles Ltd., a renowned leader in textile manufacturing, has signed a Memorandum of Understanding (MoU) with the Government of Tamil Nadu. This agreement, worth Rs.535 crores, was formalized on January 8th at the prestigious Global Investors Meet 2024. The signing ceremony was graced by Chief Minister M K Stalin, alongside other senior ministers and Tamil Nadu government officials. GHCL Textiles’ representation included CEO R. Balakrishnan and Sr. GM (Technical) N. Rajagopal.

The MoU encompasses investments aimed at both capacity expansion and a foray into renewable energy within Tamil Nadu. This initiative will increase GHCL Textile’s total investment in the state to a staggering Rs.1035 crores, alongside a significant boost to its renewable energy portfolio, elevating it to 75 MW.

Reflecting on this monumental investment, R S Jalan, Director of GHCL Textiles, remarked, “It is our honor to contribute to the growth of both the state and India. These investments align with our commitment to delivering sustained value to our stakeholders through continued expansion. Over the next four years, we plan to utilize these investments for enhancing our capacity, diversifying our product range, integrating textile manufacturing processes, and augmenting our Green energy portfolio.”

GHCL Textiles Limited, established in 1927 as Meenakshi mills and later part of GHCL Limited until its demerger in April 2023, stands as a testament to enduring quality and customer-centric focus in the spinning industry. With a comprehensive capacity encompassing 225000 Ring Spindles, 3320 Rotors, 480 Vortex, and 5760 TFO Spindles, GHCL Textiles prides itself on its adherence to global standards and quality benchmarks. The company is renowned for its capability to customize products for specific applications, catering to premium buyers both domestically and internationally.