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Shri Govindraja Textiles of TN announced to relocate its operations in North Carolina

Sep 23, 2014 12:55 IST

Top Picks :  Corporate Current Affairs , Business | Industry Decision , 2014 Current Affairs , September 2014 Current Affairs

Shri Govindaraja Textiles (SGT) on 22 September 2014 announced its plan to set up a spinning unit worth of 40 million US dollars in Eden, North Carolina. The unit will have 16 spinning machines with production capacity of 35 tonnes of yarn a day. The production will start by December 2014.

The three major reasons for decision to invest in the US were
• North Carolina was a cotton growing area and hence contamination free cotton is available locally.
• The cost of power is one third as compared to India and quality power supply is also assured 24*7.
• The cost of capital investment in creation of the unit is one-third of that in India.

Shri Govindaraja Textiles
• SGT is a Tamil Nadu-based textile company and is a part of the Jayavilas Group.
• SGT has 14 manufacturing units spread across two states in Southern India.
• The company has a capacity of 400000 spindles installed with latest modern machineries.

Is this article important for exams ? Yes17 People Agreed
Read more Current Affairs on: Shri Govindaraja Textiles , set up , spinning unit , Eden , North Carolina
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