GHCL inaugurates new spinning unit at Manaparai, Tamil Nadu; Stock hits 5% upper circuit

27 Jun 2022 , 03:16 PM

GHCL, India's leading Chemical & Textile Company, has inaugurated its new spinning unit at Manaparai in Madurai district of TamilNadu.

GHCL's new unit at Manaparai is the latest addition to the yarn division. The unit is equipped with 39600 ring spindles to produce synthetic and synthetic blend compact yarn and has a production capacity of 23 tons per day. The unit is equipped with state-of-the-art textile machinery and the latest on-line quality control equipment combined with computerized information systems to enhance productivity and product quality.

The unit will produce Cotton/Polyester blend yarn; Cotton/Modal & Cotton/Excel blend yarn; Supima/Modal & Supima/Tencel yarn; 100% VSF, Micro Modal and Tencel yarn; 100% Bamboo and its blend yarn; Tri blend yarns (Cotton/Polyester/Cellulosic).

With the commencement of this unit, GHCL's yarn division will now have an installed capacity of 224000 ring spindles and will be able to cater to premium segments both in the domestic as well as international markets. With an investment of Rs200 crore, of which 75% has already been made and balance will be invested by the end of September 2022, this unit will generate employment for almost 300 workers daily.

Commenting on the occasion, RS Jalan, Managing Director, GHCL said, "Taking it forward from our commitment to invest in the growth and development of the state of Tamil Nadu, I am happy to inaugurate the Karthagai unit at Manaparai. With its state-of-art machinery, this facility will be able to produce the best quality and the perfect blend of yarn.

The commencement of operations at the unit will help us create more value for our customers, add value to our product basket and generate more employment opportunities in the region. It is our consistent endeavor to invest in enhancing our capacities and capabilities so that we may continue to create value for all our stakeholders."

At around 3:30 PM, GHCL was trading at Rs579.30 per share up by Rs27.9 or 5.06% on the BSE.