Pallavaa Group to expand capacity

Textile producer Pallavaa Group plans to invest Rs 500 crore
in the next five years to expand capacity and enter into textile processing. According to Durai Palanisamy, the group’s executive director, the group signed an MoU with the Tamil Nadu Government
at the recently held Global
Investors’ Meet.

The company, with focus on synthetics and blends, has spinning, weaving, and knitting facilities
in Erode. Apart from increasing the existing capacities and investing
in textile processing, the investments (equity and debt) will also go into scaling up its wind and solar energy generation. The group’s annual turnover of Rs 2,200 crore is expected to rise to Rs 4,000 crore when the capacity is expanded.