A Memorandum of Understanding (MoU) has been signed between National Textile Corporation (NTC) and Cotton Corporation of India Ltd. (CCI), Mumbai, for setting up a ginning & pressing factory, godown and other required infrastructure at Adoni, Andhra Pradesh.
This was said by Mr Santosh Kumar Gangwar Minister of State (Textiles) in a written reply in the Lok Sabha.A Memorandum of Understanding (MoU) has been signed between National Textile Corporation (NTC) and Cotton Corporation of India Ltd. (CCI), Mumbai,#
He added that NTC has been referred to the Board for Industrial and Financial Reconstruction (BIFR) and it is currently implementing the Modified Draft Revival Scheme (MDRS) – 08, which does not propose setting up any composite spinning and weaving unit in Andhra Pradesh.
He also informed the Lok Sabha that NTC is also in the process of formulating a new MDRS-2014, which will include techno economically viable proposals for mills from across the country.
Fibre2fashion News Desk - India
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