NTC expects an investment of Rs600 crore—Rs50 crore for each—to be made in the 12 mills. All of this amount will come from the private sector.
Sunil Khandelwal, chief financial officer of Alok Industries, which has bid for three of the 12 mills this time, said: “These joint ventures are a win-win situation for both NTC and the private partner. There are no liabilities when the mill is handed over to us and it’s a profitable venture for companies like us.” Alok Industries is already developing two mills along with NTC where it is setting up garment units in Mumbai and Aurangabad. This time it has bid for one mill in Coimbatore and two in West Bengal.
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