State-owned National Textile Corporation plans to set up new textile units in the country with three of the units in Karnataka, Maharashtra and Gujarat starting operations in three to six months. The three projects cost about Rs 650 crore and have a combined production capacity of the units would be about 1.32 lakh spindles.
NTC chairman and managing director K Ramachandran Pillai informed about the units at the National Convention of Textile Engineers organised by Institution of Engineers on Friday. The three projects are at Achalpur in Maharastra, Hassan in Karnataka and Ahmedabad in Gujarat. Two new mills would also be set up in Rajasthan for geo-textiles and medical technical textile unit in Coimbatore. Pillai expects NTC with its 24 mills to gross a total turnover to touch Rs 2,014 crore by 2014, with the last year?s turnover at Rs 480 crore while this year too it is expected to be around Rs 550 crore. The company was incorporated to manage affairs of sick textile units through its nine subsidiaries. However all subsidiaries were declared sick by 2005.
