M. Soundariya Preetha
Sarada Mills is one of the two units identified for revival
COIMBATORE: The National Textile Corporation (NTC) has finalised a joint venture partner for one of its units – Sarada Mills – here.
An official of the corporation told The Hindu that the mill would be handed over to the joint venture partner, who would hold 49 per cent share in the unit, shortly. The NTC would have 51 per cent share. With 27,640 spindles, Sarada Mills was one of the two units here identified for revival through the joint venture route. The other one was Coimbatore Spinning and Weaving Mill and the corporation was studying its performance.
Apart from these two, the NTC had modernised and revived six of its units in the State with own funds. The official said the corporation proposed to take up future expansion activities mainly in two mills in the State: Kaleeswarar B and Pioneer, at Kalaiyarkoil and Paramakudi respectively, since these units had advantages such as labour availability in the vicinity.
Kaleeswarar B mill was established in 1965 with about 10,000 spindles. It currently had 38,080 spindles and was modernised at a cost of Rs. 13.91 crore. The NTC planned to increase the spindleage to 50,176 in this unit at a cost of Rs. 9.30 crore. Nearly 20,000 spindles had been replaced with new ones.
The mill now produced cotton-polyester blended yarn. With the modernisation, it would be able to manufacture value-added products such as cotton combed yarn, compact yarn, fancy yarn and coarser varieties of cotton yarn. However, an issue of concern now was the power shortage. Utilisation had dropped drastically, the official said.