The Gujarat-based textile giant Chiripal Group has proposed to invest Rs. 5,400 crore in the state for setting up a solar cell and a textile unit in Ratlam (Madhya Pradesh).
The management team of Chiripal Group including Jyotiprasad Chiripal, Director; Deepak Jain, President (commercial); Vijay Thadani, CFO and Sandeep Nagori recently held a meeting with Shivraj Singh Chouhan, Chief Minister, MP.
This initiative will generate employment for more than 3,000 people.
The Industry Policy and Investment Promotion Department of the state said that the Group proposed to set up a unit of solar cell, solar glass and PV module production in Ratlam with a capital investment of Rs. 4,600 crore. The Group is expected to set up the unit on about 250 acre. The company also plans to set up a textile unit in Ratlam in an area of 30 acres.
This is the first time in recent years that a textile giant of Gujarat has announced to invest in MP. Recently, Best Corporation of Tirupur also started the construction of its new factory in MP.
Source : https://in.apparelresources.com/