JL Oswal Group to invest ₹1,550 crore in Punjab; Major Boost for Textile Operations
The JL Oswal Group, which is a diversified group with interests in textiles, logistics, renewable energy, and hospitality, is investing approximately Rs 1,550 crore in Punjab, a majority of which will be invested in its textile division.
Of the Rs 1,550 crore, Rs 450 crore has been allocated for the modernization and capacity expansion of its existing spinning and textile manufacturing facilities. The investment in the textile division will enhance productivity and product quality and is designed to meet the growing global demand for premium textile products.
The JL Oswal Group is also investing an additional Rs 50 crore for a state-of-the-art apparel manufacturing unit in order to drive value-added manufacturing. The group which has annual revenue of approximately Rs 8,000 crore, is also investing Rs 400 crore in the development of logistics parks and industrial infrastructure to streamline supply chain efficiency.
Rs 50 crore is also being invested in sustainable energy solutions which will ensure that the new production plants align with green industrial standards. The whole investment will be spread across the next three years and is expected to generate over 4,000 direct and indirect employment opportunities.
