The Minister of State for Textiles, Shri E.V.K.S. Elangovan, informed the Lok Sabha in a written reply to a question by Shri K.C. Pallani Shamy that it has been decided to seek private partnership to modernize and run some of NTC mills through joint venture route.
The proposal for Joint Venture has been approved by the Board for Industrial and Financial reconstruction (BIFR) and Group of Ministers (GOM) as part of the Revival Scheme for NTC, to implemented by the year 2008.
Shri Elangovan further stated that it has also been decided to set up Indian Textile Plaza on the vacant land of Jehangir Textile Mills, Ahmedabad which includes setting up of Textile Museum, Training Centre and Exhibition Centre, etc.
To implement the project a Memorandum of Understanding has been entered into with the National Building Construction Corporation for developing the Indian Textile Plaza at a cost of Rs. 180 crore, he added.
Press Information Bureau Government of India
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