The Government of Tamil Nadu and GHCL Limited, India’s major chemical and textile company, inked an MoU (Memorandum of Understanding) for an investment of Rs.500 crores in the state. Mr. M. Sivabalasubramanian, CEO (Yarn Division) GHCL and Ms. Pooja Kulkarni IAS, MD & CEO, Guidance, Industries Department, Government of Tamil Nadu signed the MoU in the presence of Shri. M. K. Stalin, Chief Minister of Tamil Nadu, on November 23rd in Coimbatore at the Investment Conclave.
GHCL would install 40000 ring spindles in Manaparai, Tiruchirappalli district, to create synthetic and synthetic blended yarn for the knitting and weaving segments, according to the MoU.
In Paravai, Madurai district, it will also install another 40000 Ring Spindles with 24 Knitting Machines to make 100% cotton yarn and knitted textiles. In Manaparai, the business also intends to build an EHT (extra high tension) power transmission infrastructure.
