Home / Knowledge / News / Textiles / NTC eyes Rs 7.5 bn via e-auction of Mumbai mill land
NTC eyes Rs 7.5 bn via e-auction of Mumbai mill land
25
Jun '10
The state-run National Textile Corporation (NTC) informed that, it will e-auction its 8.38 acres of prime land in Mumbai to generate minimum Rs 7.5 billion.

The corporation, which had earlier invited sealed tenders for sale of Bharat Textile Mills at one of the prime areas of Mumbai, Lower Parel, will now acquire e-auction mode for selling the property.

The land at Lower Parel is perfect for setting up an IT park, hospitals, hotels and educational institutions. NTC had earlier announced that, sales of 60 acres of land of Mumbai mill would be undertaken in phases during the ongoing fiscal to provide finances to company's Rs 91.02 billion expansion, diversification and modernization program.

Including Prabhadevi, Worli and Lower Parel areas in Mumbai, NTC has nine of its mills located at various prime locations of the city. When Rs 7.5 billion was fixed as the reserve price of Bharat Textile Mills, the industry insiders commented that, the corporation could garner more than this.

A mill land of the corporation at Worli was sold for 274 percent more than the reserve price, in the year 2005. Out of 119 mills of NTC, around 77 were shut down under the Industrial Disputes Act. Two out of these have been relinquished to the Pondicherry government and five are being refurbished under the co-operation with Pantaloons, Alok Industries and Bhaskar Industries.

Fibre2Fashion News Desk - India


Must ReadView All

Market share of Indian textile items expand in 13 nations

Textiles | On 11th Dec 2017

Market share of Indian textile items expand in 13 nations

Thirteen countries — Germany, France, Italy, the United States,...

Courtesy: EUBrasil

Textiles | On 11th Dec 2017

Euratex, ABIT welcome negotiations for EU-Mercosur FTA

European Apparel and Textile Confederation (Euratex) and the...

Most firms expect no change in investment plans: CII survey

Textiles | On 11th Dec 2017

Most firms expect no change in investment plans: CII survey

Despite visible optimism in Indian industry with the Confederation of ...

Interviews View All

Jim Desai
Blaiva Fabricaa

Fashion industry likely to remain labour-intensive in coming years

Rahuul Jashnani
Jashn

‘Online economy has changed the whole dynamics of buying habits.’

Cyril Pereira
Reed Exhibitions India, organiser of Asian Machine Tool Exhibition 2016

'Major problem in the textile machinery manufacturing industry is the lack ...

Rikesh Mistry

Jupiter Comtex Pvt Ltd, established in 1973, started its textile machinery ...

Anupam Arya

<div>Jaipur-based Fabriclore Retailing Pvt. Ltd. is attempting to revive...

Sugandha Bhardwaj

<div>New Delhi-based Brinjal Designs Pvt Ltd manufactures home furnishing...

Kai Poehler
Voith Paper GmbH & Co. KG

The glass mat industry is growing by five to eight per cent annually. Kai...

Suresh Patel
Sidwin Fabric

Sidwin Fabric is a manufacturer and exporter of polypropylene textiles and ...

Eamonn Tighe
Nature Works LLC

Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of...

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

Wendell Rodricks
Wendell Rodricks

"We should not compare India and the West. There are things we do that...

Madhu Jain
Madhu Jain

She grew up in the walled city of Old Delhi, completed her studies, and...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

December 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
69.2%
No
12.1%
Skip
18.7%

Total Votes: 91

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
61.5%
No
30.8%
Skip
7.7%

Total Votes: 91

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
86.8%
No
9.9%
Skip
3.3%

Total Votes: 91

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
81.3%
No
8.8%
Skip
9.9%

Total Votes: 91


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search