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NTC plans to float an SPV to revive its other five sick mills
 
NTC plans to float an SPV to revive its other five sick mills
After receiving a jolt in its plan to sell five sick mills located in premieum areas of Mumbai, the National Textile Corporation(NTC), is looking at floating an SPV with private parties to revive its other five sick mills. NTC has invited expression of interest from parties to form a SPV in which it will lease the five mills for fifteen years, sources said. The state-owned corporation has put an eligibity criteria of 10 years of experience in textiles business and last three years of profit -making perfomance for the parties interested in bidding. There are 29 sick mills across the country with NTC having around 50,000 employees. NTC plans to modernise these ailing mills through the proposed move, the sources said.
Posted On : 11/21/2005 12:43:07 PM

 
 
 
NTC plans to float an SPV to revive its other five sick mills