NTC is to modernise 24 (22+2) mills by itself through generation of funds from the sale

of its surplus assets and 16 (182) mills are to be revived through Joint Venture route.
NTC has modernised 18 mills so far and is in the process of setting up 3 Composite
Textile Units of which one is an SEZ area.
NTC would be setting up 1 Technical Textile Unit and modernising 2 more units taken
out from the list of Joint Venture apart from going into Ginning & Garmenting by way of
forward and backward integration to have a pressure in all components of the value
chain.
NTC is on threshold of up-grading its technology in the operating mills and is looking
forward to modernisation, expansion, product diversification etc. Venturing in to
Technical Textiles the sunrise sector of the future, transformation of its retail marketing
outlets and enhancement of its Brand image are some of important current agenda of
corporation. National Textile Corporation has well established retail network throughout
the country with its 92 retail stores.
NTC is to modernize all its mills by itself through generation of funds from the sale of its
surplus assets and 5 mills are put in Joint venture with corporates.
NTC has put up 3 Composite Textile Greenfield Units in Ahmedabad (Gujarat), Achalpur
(Maharashtra) and one is an SEZ area of Hassan (Karnataka).
NTC has started taking initiatives to set up technical textile projects in Joint Venture with
the world leaders and is working towards it.
24 units have to be modernised by NTC itself. 05 mills have been revived through Joint
Venture with private players.
Steps being taken to make the loss making units to profit makingImprovement in utilization, improvement in Productivity, production of value added
products, improvement of quality, implementation of work load agreements, power
purchase agreement, engagement of women workers etc.In the first phase of
modernization, NTC has already modernized its 18 units. Setting up 4 green field projects
and modernizing another 2 units.
Cost of revival of NTC mills-

In the first phase of revival, the cost of modernization is Rs.530 crores which has been
increased to Rs.1155 crores and approved by BIFR in the second phase. The total cost of
revival of the company is Rs.9102 crores, including MVRS, payment of old arrears of
statutory dues etc.
Amount spent on ModernisationDuring the first phase of modernization NTC has spent R s.833.00 crores till date to
modernize its 18 mills. The total Project cost for three Green field projects namely Finlay
at Achalpur, New Minerva at Hassan and Rajnagar at Ahmedabad are under
implementation at a total cost Rs.555.38 crores . Rs. 2.87 crores have been spent on Short
Term modernisation of two mills taken out from JV list. Till date an amount of Rs.
1391.24 Crores has been spent on modernization including Green field projects
Salient features to revive through Joint VentureNTC has revived 05 units through Joint Venture route by forming SPV. In the JVcompany
NTC will have 51 percent equity and majority of 5 directors, out of 8 members on the
Board. All the investment to revive the unit would be made by strategic partners.-----