GHCL will invest Rs 500 crores in Tamil Nadu. The chemical and textile company will set up 40,000 ring spindles in Tiruchirappalli district to produce synthetic and synthetic blended yarn to cater to the knitting and weaving segments. GHCL also plans to develop an extra high tension power transmission facility to ensure uninterrupted power supply. It will install another 40,000 ring spindles with 24 knitting machines in Madurai district to produce 100 per cent cotton yarn and knitted fabrics.
In order to fulfil its commitment towards sustainable business practices and reduce its carbon footprint, GHCL proposes to set up a 20 MW solar power park. At the moment, 52 per cent of the energy requirements of GHCL’s yarn business is fulfilled from renewable resources. Once the project is completed, almost 70 per cent of GHCL’s energy requirement for the spinning business will be from renewables. Going forward, GHCL will further enhance its energy portfolio to fulfill almost 90 per cent of its energy requirements from renewable sources.
GHCL is an Indian group with a footprint in chemicals, textiles and consumer products. It has commenced the new fiscal year on an encouraging note with substantial gains across all its business segments.