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NTC to expand capacity in Technical Textiles

27 Jul '11

2 min read

National Textile Corporation (NTC) plans to increase its production capacity and also diversify into technical textiles. Its Chairman K. Ramachandran Pillai told this correspondent here on Tuesday that the company had Rs.1,500 crore cash surplus, mainly because of sale of surplus assets. “We can now go in for diversification and expansion,” he said.

NTC proposed to set up a geo textile unit in Rajasthan at an investment of Rs.250 crore and a medical textiles unit in Tamil Nadu at an investment of Rs.60 crore. “We are scouting for a joint venture partner. We need a partner for marketing and technology. The partner will be finalised this year and investments are expected to be made in 2012-13,” he said.

It also proposed to invest Rs.250 crore in ten technical textile projects to be developed with a joint venture partner in a cluster mode. NTC would develop the infrastructure on the surplus land it had and hand it over to private players. The location would be finalised based on the choice of the partner.

NTC now had 7.2 lakh spindles in 21 textile mills and proposed to take the total spindleage to 12 lakh in two years. About 1.2 lakh spindles would be added in six mills this year.

NTC would invest about Rs.135 crore in expansions and new projects, he said.

The Hindu