A Memorandum of Understanding (MoU) has been signed between National Textile Corporation (NTC) and Cotton Corporation of India Ltd. (CCI), Mumbai, for setting up a ginning & pressing factory, godown and other required infrastructure at Adoni, Andhra Pradesh.
This was said by Mr Santosh Kumar Gangwar Minister of State (Textiles) in a written reply in the Lok Sabha.
He added that NTC has been referred to the Board for Industrial and Financial Reconstruction (BIFR) and it is currently implementing the Modified Draft Revival Scheme (MDRS) – 08, which does not propose setting up any composite spinning and weaving unit in Andhra Pradesh.
He also informed the Lok Sabha that NTC is also in the process of formulating a new MDRS-2014, which will include techno economically viable proposals for mills from across the country.