Ramraj Cotton to set up Rs 1k cr plant in TN

Hyderabad: Ramraj Cotton, a leading textile company said it has signed a Memorandum of Understanding (MoU) with the Tamil Nadu government to set up a spinning and weaving processing plant with an investment outlay of Rs 1,000 crore over five years.

The MoU was signed at the Tamil Nadu Global Investors Meet (TNGIM) 2024, held at the Chennai Trade Center, in the presence of Tamil Nadu Chief Minister M K Stalin.

The company in a press release said that the plant is expected to create employment for 5,000 people and will be a significant step towards developing the textile industry in Tamil Nadu.

The founder of Ramraj Cotton, Nagarajan, presented the MoU to the Chief Minister. The Chairman said, “Through such industrial investments being implemented in collaboration with the Tamil Nadu government, employment will be created for thousands of weavers. It will be helpful to take the State on the path of development in industrial development.”