MODERNISATION STATUS OF 23 (21+2) NTC MILLS

(A) NTC is modernizing its 23 mills from funds generated through sale of assets

Modernization has been completed in the following 18 Mills.

1. Coimbatore Murugan Mills
2. Algappa Mills
3. Cambodia Mills
4. Barshi Textile Mills
5. Kerala Lakshmi Mills
6. Podar Mills
7. Kaleeswarar 'B' Mills
8. Pioneer Mills
9. Pankaja Mills
10. Indu Mill No.5
11. New Bhopal Mills
12. Burhanpur Tapti Mills
13. Vijaya Mohini Mills
14. Tata Mills
15. Arati Mills
16. Cannanore Spg & Wvg Mills, Mahe
17. Sri Rangavilas Mills
18. Cannanore Spg. & Wvg. Mills, Cannanore

NTC is expanding the capacity of 5 mills in new sheds, namely-

1. Cannanore Mills, Cannanore
2. Pioneer Spinners, Kamudakudi
3. Kaleeswarar 'B', Kalayarkoil
4. Burhanpur Textile Mills, Burhanpur (6000 spls in existing shed)
5. New Bhopal Textile Mills, Bhopal

(B). '3' new mills set up by relocation

1. Finlay Mills, Achalpur
2. New Minerva Mills, Hassan
3. Rajnagar Mills, Ahmedabad

Following  mills are taken out of JV list for modernization by NTC

1. Coimbatore Spg. & Wvg. Mills, Coimbatore
2. Tirupathi Cotton Mills, Renigunta

STATUS OF JOINT VENTURE

NTC finalized Joint Venture for following 5 mills in the 1st phase as per EGOM directions by following the bidding process with 3 renowned textile players namely M/s.Bhaskar Industries, M/s.Alok Industries & M/s.Pantaloon Retail (India)Limited with the assistance of JV Advisor M/s Deloitte Touche Tohmatsu India Pvt.Ltd.

1. India United Mills No.1
2. Apollo Textile Mills
3. Gold  Mohur Mills
4. New City of Bombay Mfg. Mills
5. Aurangabad Textile Mills

All the above mentioned JVCs are earning Net Profit consistently since last 4 and  1/2 years.

MOU signed for JV in respect of another 11 mills has been cancelled, which has been challenged in Delhi High Court. Hearing completed, Judgment reserved. Further matter referred for Arbitration.