GHCL Limited, a chemical and textile company, has signed an MoU (Memorandum of Understanding) with the Government of Tamil Nadu for investing ₹500 crore in the State. As per the MoU, GHCL will set up 40,000 ring spindles in Manaparai, Tiruchirappalli district, to produce synthetic and synthetic blended yarn to cater to the knitting and weaving segments, according to a stock exchange filing. GHCL also plans to develop an EHT (extra high tension) power transmission facility in Manaparai to ensure uninterrupted power supply. At the moment, 52 per cent of the energy requirements of GHCL’s yarn business is fulfilled from renewable resources. Going forward, we will further enhance our energy portfolio to fulfil almost 90 per cent of our energy requirements from renewable sources.”

Source: The Hindu November 27, 2021 07:35 UTC