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Three new mills of NTC to start operations
30
Mar '10
State-owned National Textile Corporation (NTC) has announced that its three new mills in the states of Karnataka, Maharashtra and Gujarat will start functioning in next three to six months. Establishment cost of these three mills is estimated at Rs.6.5 billion, informed Mr. K Ramachandran Pillai, NTC Chairman and Managing Director.

He was speaking at the National Convention of Textile Engineers held by Institution of Engineers. These mills are being established at Achalpur in Maharastra, Hassan in Karnataka and Ahmedabad in Gujarat. These three mills would have a combined a capacity of 132,000 spindles, said Mr. Pillai.

He further informed that apart from spinning, NTC will start weaving, processing and garmenting segments of the textile industry in these three new mills. Along with these three mills, the company is also taking steps to institute a new mill in Rajasthan for geo-textiles, which is the special kind of textile used in construction work and road making.

It has been expected that by the year 2014 that the total turnover of the company would go up to Rs.20.14 billion as an ambitious plan has been chalked out to fetch that amount of business, informed Mr. Pillai. Last year, the annual turnover of NTC was Rs.4.8 billion, which will increase up to Rs.5.5 billion this year, he added.

Along with these four new mills, NTC has overall 24 mills.

Fibre2fashion News Desk - India

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