Several industrial groups in Tiruppur have announced their plans to invest in textile-related activities and energy sectors, signing a Memorandum of Understanding (MoU) at the Global Investors Meet (GIM) in Chennai. One of the prominent investors, the Ramraj Group, inked an MoU with the Tamil Nadu government to invest a staggering ₹1,000 crores over the next five years. With a focus on textile processing, weaving, and spinning units, the group aims to allocate approximately ₹200 crores annually towards these ventures. The sizable investment is projected to generate around 5,000 jobs by the end of the five years.
In a similar vein, the Poppys Group, led by chairman A. Sakthivel, is set to establish a grain-based ethanol plant in Cheyyar, with an expected outlay of ₹300 crores. This initiative will create direct and indirect employment for approximately 500 individuals and enable a daily ethanol production capacity of 200 kiloliters. The grains for the plant will be sourced from various states, and its strategic location in Cheyyar will facilitate convenient access to oil marketing companies. Completion of the plant is anticipated by mid-2025.
The KM Knitwear Group’s subsidiary, Jeyavishnu Clothing, plans to invest ₹330 crores in textile spinning and processing segments, with approximately 90% of the project already completed. The investment is expected to yield over 2,500 jobs upon completion. Similarly, SCM Garments has committed to investing ₹500 crores over five years, resulting in the creation of 9,300 jobs. The company will establish new garment factories, install solar and wind energy plants, and expand existing garment factories across various locations, including Tiruppur, Coimbatore, Erode, Karur, and Tiruchi.
