About 30 acres in the erstwhile Minerva Mills premises in the city will be auctioned off by the National Textile Corporation (NTC) by December 2010. As a precursor to the sale, NTC is checking the market by selling a small piece of land on Magadi Road, Chairman and Managing Director K. Ramachandran Pillai told The Hindu here on Wednesday.
The NTC has put 1.7 acres on Magadi Road on the block for which a pre-bid conference was held on Wednesday. The corporation is expecting a minimum bid of Rs. 50 crore. The last date for submission of EMD and document fee along with documents is November 8. — Staff Reporter