State-owned National Textile Corporation (NTC) is foraying into processing and plans to establish a technical textiles cluster with private partnership. The processing facility, being set up at Hassan in Karnataka, is slated to commence operations "very soon," according to a top NTC official.
K Ramachandran Pillai, chairman and managing director, NTC said the facility would have a capacity to process 40,000 metres of fabric a day and would be housed at NTC's 40-acre unit. The composite greenfield unit was being set up with an investment of Rs250 crore with 40,000 spindles and 48 shuttle-less looms for weaving.
A technical textile cluster, would also be set up which would have a minimum of 10 projects at a cost of Rs 250 crore, with private partnership, he said.
Pillai told reporters on the sidelines of a seminar on technical textiles organised by CII in Coimbatore that NTC would provide infrastructure facilities such as land and building and the choice of the location would depend upon private players.
NTC had also shortlisted a few locations including a 135-acre plot in Kanpur, Vidarbha region of Maharsthra as also Coimbatore for the cluster, he said.
The company has Rs1,500 crore cash surplus, mainly because of sale of surplus assets. He added that the company could now go in for diversification and expansion.