Home / Knowledge / News / Textiles / Alok Industries bids for sought-after NTC mills

Alok Industries bids for sought-after NTC mills

08
May '08
National Textiles Corporation (NTC) has floated tenders for 12 of its mills in Maharashtra, Tamil Nadu, West Bengal, Uttar Pradesh and Kerala, expecting to foray into a joint venture with private enterprises.

As many as nineteen companies including Alok Industries, have expressed interest in contracting agreements for running the mills. However, of these, only eight will be selected. NTC floated the tender in January and expects to nail down successful bidders by July.

According to experts, not only is the land offered by NTC attractive, its also very lucrative for private companies since setting up greenfield units will prove to be more expensive.

In an exclusive interview with Fibre2fashion, Sunil Khandelwal, CFO, Alok Industries stated, “Apart from setting up our garmenting unit, we can use the additional area in the mill for other textile-related activities like design studio, training centre, textile labs, fashion show exhibition and such other purposes.”

Mr Khandelwal further confirmed that since its previous experience in the first tender had been good, the company wanted to venture for 2-3 other mills in the second tender. Private partners will be given the land for lease for a period of 33 years which can be extended to 99 years.

Under the joint venture, NTC will hold 51 percent of the stake while the rest will be held by private partners. Moreover, the board will comprise of 8 members of which 5 will be from NTC itself.


Interviews View All

Textile industry, Head honchos

Textile industry
Head honchos

Relaxation in FDI norms will support growth of retail sector

Smita Murarka, Amanté

Smita Murarka
Amanté

‘There is huge demand in the Indian lingerie market for non-wired styles.’

Anvita Mehra, Confidential Couture

Anvita Mehra
Confidential Couture

‘It is going to take some time for Indian buyers to get accustomed to...

Ravi Kant Prakash,

Ravi Kant Prakash

A crucial role in the process of fabric manufacturing is played by the...

Lukas Hartmann,

Lukas Hartmann

Intex Consulting GmbH is a completely integrated enterprise resource...

Himanshu Jariwala,

Himanshu Jariwala

J Korin started as a partnership firm with four powerlooms in the textiles ...

Justin Chan & Shyam Gollakota, University of Washington

Justin Chan & Shyam Gollakota
University of Washington

A fabric that can store data without any electronics or batteries has been ...

Michael Jaenecke, Messe Frankfurt

Michael Jaenecke
Messe Frankfurt

From May 14 to 17, international exhibitors will present the entire...

Eamonn Tighe, Nature Works LLC

Eamonn Tighe
Nature Works LLC

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

Sandeep and Sarah Shaikh Gonsalves, SS Homme

Sandeep and Sarah Shaikh Gonsalves
SS Homme

SS Homme celebrates the craft of traditional tailoring through the bespoke ...

Joe Ikareth, Joe Ikareth

Joe Ikareth
Joe Ikareth

<b>Joe Ikareth</b> has a rock-solid fashion and textiles background, which ...

Judy Frater, Somaiya Kala Vidya

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

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

Leave your Comments


November 2019

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

Follow us on instagram

Follow

Follow Fibre2Fashion On


Advanced Search