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Marathawada & Vidharbha to get textile parks
22
Jan '10
The Union Textile Ministry is contemplating setting up two textile parks in the cotton-rich regions of Marathawada and Vidharbha in Maharashtra. This was announced by Mr Dayanidhi Maran, while inaugurating the three refurbished mills owned by the state-owned National Textile Corporation (NTC).

NTC has spent around Rs 1.49 billion in modernizing these three mills; Tata, Poddar and India United Mills No 5. They have a combined spinning capacity of 140,000 spindles and around 2,500 workers are expected to get employment.

Other than these three mills, NTC has also taken up modernization of the New City Mill, Gold Mohur Mill, India United Mill No 1 and Apollo Mill in Mumbai through joint ventures with private companies.

NTC is taking up 43 mills for modernization of which, it will upgrade 24 by itself and the rest will be done through joint venture partners. It has also closed down 77 unviable mills and offered a VRS to 61,000 employees which resulted in an outgo of Rs 21 billion.

The state-owned entity is also setting up three greenfield projects at Hassan in Karnataka, Achalpur in Maharashtra and Ahmedabad in Gujarat at an investment of Rs 6 billion.

Fibre2fashion News Desk - India


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