Book English 2011.p65 - Ministry of Textiles

ministry of textilesrehabilitation schemes for NTC in 2002/2005, which were modified in 2006 (MRS-06) and 2008 (MS-08). As per BIFRapproval, the revival plan of NTC is to becompleted by 31.03.2011 at a total costof Rs. 9102 crore. As per the schemes,all the 9 subsidiaries of the companymerged with the Holding Company on01.04.2006, making it a single entity. Outof the total 119 mills, two mills weretransferred to the Govt. of Puducherry. 77unviable mills have been closed under IDAct. Of the remaining, 18 mills have beenmodernised by NTC itself, and are makingcash profits. 5 mills have been revivedthrough joint venture and are running inprofit.SUBSEQUENT DEVELOPMENTSThe MS-08 was approved by the BIFR on04.09.2008 at a total cost of Rs. 9102.72crores. It takes into account the variousmodifications due to changed economicscenario in the textile industry. It hasvarious reliefs and concessions asenvisaged in the earlier schemes.INAUGURATION(i)(ii)(iii)On 10.7.2010, Minister of Textiles,Shri Dayanidhi Maran inauguratedfour modernised mills namely VijayMohini Mills, Algappa Textile Miils,Cannanore Spg & Wvg Mills andKerala Laxmi Mills.On 6.6.2010, Smt. Rita Menon,Secretary (Textiles) inaugurated themodernised and revamped KhanMarket showroom in New Delhi.On 29.07.2010, Minister of Textiles,Shri Dayanidhi Maran inauguratedonline e-auction of sale of surplusland.MILESTONES ACHIEVED BY NTCUNDER THE REVIVAL SCHEME●Out of the total 119 mills, two millswere transferred to the Govt. of●●●●●●Puducherry. 77 unviable mills havebeen closed under ID Act. Of theremaining, 18 mills have beenmodernised by NTC itself, and aremaking cash profits. Of these, 9 millshave been awarded ISO Certification.Relocation of mills for modernization- BIFR approved relocation of 4 mills- one each at Achalpur (Maharashtra);Hassan (Karnataka); Ahmedabad(Gujarat); and Udaipur (Rajasthan).Setting up of these projects willtransform the Company into anintegrated textile company. 3 millsare composite mills which arerelocation projects and the spinningsegment of the two projects i.e Finlayat Achalpur, and New Minerva atHassan are erected & Rajnagar atAhmedabad is expected by Dec.2010.5 mills have been revived throughjoint venture and are running inprofit.Two mills namely Tirupathi CottonMills, Reningunta and CoimbatoreSpg. & Wvg. Mills, Coimbatore earlierearmarked for JV, are proposed tobe modernized by NTC.The Company has sold assets worthRs. 6168 crores as on 01.02.2011under the revival scheme.The entire workers of the millsidentified for closure and the surplusemployees in the viable mills inaddition to those employees whowere desirous to go under MVRS inthe various offices, were given MVRS.As on 01.02.2011, 62463 employeeshave gone under MVRS. As on01.02.2011 NTC has 8389 employeesin its units, offices and CorporateOffice.NTC mobilized Rs. 2028 croresthrough Bonds, redeemable on 5years maturity (NTC has paid full178