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Maharashtra Govt takes steps to revive sick mills

26
May '10
The government of Maharashtra intends to bring in foreign investment into the state, in co-operation with the private sector, to resume closed spinning mills and the mills under liquidation, in order to breathe life again into the spinning mill sector of the state.

Government also endeavours to open new spinning mills and is considering adopting various ways of modernizing closed mills and those under liquidation. The state houses 28 spinning mills, which are sick, closed or under liquidation. The government will re-commence such spinning mills, on priority basis, with finances offered at discounted rate.

State's power loom sector requires 1012.38 million kilograms (kg) of yarn. But, the spinning mills of the state, which are under the co-operative sector, produce only 1.2 million kg of yarn per year, accounting for only 10 percent of the power loom sector's total requirement of yarn, informed, Textile Minister, Mohammed Arif Naseem Khan to PTI.

Fibre2Fashion News Desk - India


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