Tamil Nadu - Coimbatore   

NTC modernises textile mills

COIMBATORE: The National Textile Corporation (NTC) has modernised 17 of its textile mills in the country at a cost of over Rs. 500 crore.

Chairman and Managing Director of the Corporation K. Ramachandran Pillai told presspersons here on Friday that of the 17 mills, four units in Coimbatore, modernised at an outlay of Rs. 104 crore, would be inaugurated on Saturday by Union Textile Minister Dayanidhi Maran.

Three more mills would be modernised in the second phase and the corporation was developing three greenfield projects. Modernisation of one more mill would be completed next month. The NTC would invest totally Rs. 1,150 crore in the modernisation and greenfield projects.

The NTC had gone in for technology upgradation, financial and organisational restructuring. It hoped to achieve Rs. 57 crore profit in 2009-2010, he said. The NTC had also revived five mills through joint venture and in 2008-2009, these five mills achieved a profit of Rs. 22 crore.

The focus now was on consolidation and the corporation could look at expansion after this. Consolidation of the spinning mills would be over this year, he said.

The four mills modernised here provided direct employment to 3,000 people and had a total spindleage of 1.5 lakh. Trial run of the new machinery was already on in these units, he said.

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