More than century old Anglo French Textile mill here, which has remained closed for more than a year now for increased debt burden and want of funds for investment, will reopen on February 12, officials said.
Disclosing this to reporters here, V Bhalan, Chairman of Puducherry Textiles Corporation, said as a prelude to restarting the mill, maintenance works in all its three units would be taken up on January 23 and subsequently in the next fifteen days the units would recommence operation in a phased manner.
In the first phase, the management would invest Rs five crore for installing boilers and other equipment.
It was closed following increased debt burden, want of funds for investment and difficulty in raising bank loans for its rehabilitation, he said.
The territorial administration has been running the mill through the corporation after it was taken over in 1984.
A joint meeting was held twice in December and a few days ago between the officials of the mill management and representatives of the trade unions, he said.
After workers representatives assured authorities that full cooperation would be extended to the management for reopening the mill in a phased manner, the management chalked out a programme to restart production from February 12.
