NTC receives 9 EOIs for joint ventures

New Delhi, Feb 22 (UNI) The National Textile Corporation has received expressions of interest from nine parties for running 22 mills on the basis of the joint ventures, the Rajya Sabha was informed today. Total mills put on the block were 29.

Minister of State for Textiles E V K S Elangovan said in a written reply that the EOIs have been evaluated and only qualified parties would be invited to offer bids.

As per the criteria, an NTC mill would be transferred on lease to a Special Purpose Vehicle along with the existing machinery The SPV would be structured by 26 per cent to 49 per cent equity participation by NTC in the form of assets.

The equity of private partner shall be 74 per cent to 51 per cent and the initial lease would be for 15 years extendable for a further period of 15 years.

UNI PC AK KN1421