GHCL Textiles Ltd, a leading yarn manufacturer, has committed an investment of Rs 535 crore towards expanding its capacities in the state. The Tamil Nadu-based company formalized this commitment by signing a Memorandum of Understanding (MoU) during the Global Investors Meet with the government, outlining its substantial investment plans.

This MoU encompasses both capacity expansion and an increased focus on the renewable energy sector, resulting in a cumulative investment of Rs 1,035 crore, as per a company statement. The company aims to bolster its renewable energy capacity to 75MW through this new investment plan.

GHCL Textiles Director, R S Jalan, expressed the company's honor in contributing to the growth journey of Tamil Nadu and India. He stated, "These investments align with our commitment to consistently deliver value for our stakeholders by ensuring sustained growth in earnings."

Over the next four years, the investments will be allocated to expanding capacities, diversifying product offerings, vertically integrating textile manufacturing to include knitted and woven finished fabrics, and augmenting the green energy portfolio, Jalan added.