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GHCL will invest Rs 500 cr in TN; Textiles, energy transmission at a glance, Energy News, ET EnergyWorld

By on November 28, 2021 0


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Chennai: Leading chemical and textile company GHCL Ltd is reportedly investing Rs 500 crore in Tamil Nadu and a memorandum of understanding has been signed with the government to that effect, the company said on Saturday.

GHCL (Wire Division) CEO Mr. Sivabalasubramanian exchanged documents with Guidance Tamil Nadu, Managing Director and CEO, Pooja Kulkarni in the presence of Chief Minister MK Stalin at the investment conclave recently held in Coimbatore .

GHCL announced that it will install 40,000 ring spindles in Manapparai, Tiruchirappalli district, to produce synthetic and synthetic blended yarns for the knitting and weaving segments. It would install another 40,000 ring spindles with 24 knitting machines in Madurai district to produce 100% cotton yarn and knitted fabrics.

In addition, the company would also develop a very high voltage power transmission (EHT) facility in Manapparai, he said.

As part of its move towards sustainable business practices, GHCL Ltd has planned to set up a 20 MW solar power park near Musiri in Tiruchirappalli district. Once this 20 MW solar park project is completed, 70% of the company’s needs would be met for the spinning activity using renewable energies.

Currently, 52% of the yarn industry’s energy needs are met from renewable energy resources, the company said. “We are honored and proud to be a part of Tamil Nadu’s growth story that suits our long-term association with the state,” said GHCL Ltd Managing Director RS Jalan.

“This MoU will help us create value for the community and is aligned with our strategic growth plans and our sustainability goals. Going forward, we will further improve our energy portfolio to meet almost 90% of our energy needs from renewable sources. “

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