NTC sick mills rejig to cost Rs 540cr

Modernisation of 13 sick mills of the National Textile Corporation (NTC) will be completed by March 2007.

Addressing a Parliamentary Consultative Committee today, textiles minister Shankursinh Vaghila today said nine other sick mills of NTC will be modernised by March 2009.

The total cost of the project has been estimated at Rs 540 crore.

Vaghila also told the committee members that NTC is projected to produce 600 lakh kilogram of yarn and 250 lakh metre of cloth annually with a turnover of more than Rs 931 crore in the year 2009-10.

The Board for Industrial and Financial Reconstruction (BIFR) has also approved the modernisation of 18 NTC mills through joint ventures.  Of these, two mills at Coimbatore are likely to be dropped from the joint venture list due to improved performance.