Singapore-based Royal Golden Eagle (RGE), a major player in manmade fibers, is making its first foray into India with a proposed investment of Rs 4,953 crore in a manmade fiber plant in Thoothukudi. An MoU for the project is expected to be signed during the "TN Rising" investment conclave.

The new plant is projected to create 1,065 jobs and will significantly contribute to the economic development of Tamil Nadu's southern region. 

The project is notable for its emphasis on domestic value addition, with 90% of the raw materials (excluding pulp imported from Indonesia) to be sourced locally, a significant portion of which will come from within the state. 

This plant will serve as a reliable source of high-quality raw materials for Tamil Nadu's thriving textile industry, strengthening regional supply chains and reinforcing the state's position as a manufacturing powerhouse.