National Textile Corporation

The National Textile Corporation has begun talks with theNational Textile Corporation National Buildings Construction Corporation and others for sale of its surplus land in four cities that is expected to fetch the state-owned firm Rs 5,000 crore. The National Textile Corporation which has given voluntary separation to 60,771 employees has drawn an ambitious corporate plan to reach a turnover of Rs 2,014 crore by 2014. Textile Minister Dayanidhi Maran said that National Textile Corporation may raise more money by delaying the sale as property prices recover. Mumbai, the nation’s commercial capital, has the lowest office-vacancy rates among India’s biggest cities. The National Textile Corporation manages 119 sick private sector textile mills that were nationalized by the government over the last several decades.

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