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NTC acquires two more mills in Tamilnadu
14
Mar '11
Two non-functional cooperative mills in Tamil Nadu have been taken over by the National Textile Corporation (NTC).

Of the two mills one is located on a 53 acre plot in Dharapuram, while the other is on a 30 acres plot in Kancheepuram.

With this acquisition, NTC now owns seven mills in Tamil Nadu and employs a workforce of around five thousand employees.

The Corporation plans to spend over three billion rupees to set up a medical textile producing unit at Kancheepuram and an integrated textile manufacturing plant at the Dharapuram mill site, which would comprise functions like spinning, weaving and processing.

The new facilities are proposed to be started in fiscal 2011-12 with installation of new machinery. The Dharapuram plant would be equipped with 48 shuttles-less looms, 150,000 spindles and a processing unit with zero effluent discharge mechanism.

NTC, which presently operates 2.14 lakh spindles in its seven mills in TN, is likely to add other 33,000 spindles at its Pioneer and Kaleeswara mills, situated near Madurai.

As a part of its expansion and revival plan, NTC by now has spent Rs. 1.1 billion towards refurbishment of its existing mills in Tamil Nadu.

The Corporation's total turnover from all its mills in the South is likely to be around Rs. 5.8 billion during the current fiscal, with TN contributing around 60 percent of the same.

Fibre2fashion News Desk - India

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