Tex Min to decide on technical bids for NTC Mills by end Nov
10 Oct '05
1 min read
By the end next month, technical proposals for remodelling 15 National Textile Corporation (NTC) mills would be firmed up, an official of Union Textiles Ministry stated, Saturday.
In the first round of remodelling, 15 of 22 NTC mills would be selected not later than June 2006, incurring expenditure of Rs 300 crores, announced Sudripta Roy, Joint Secretary in the Textile Ministry.
With sizeable Chinese textile machinery manufacturers participating in the process, technical bids would be settled before November end. Roy added that the total remodelling cost for all 22 mills will be Rs 550 crores.
Speaking from the sidelines at the Annual Technological Conference of the South India Textile Research Association, Roy said the ministry would shortly call for proposals to organise 30 other mills deemed viable for joint venture.
Stating that remodelling efforts would be financed through internal accruals, Roy added that the corporation has fund worth Rs 3000 crores generated by disposing off land and possession of several mills across India.
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