Financial Daily from THE HINDU group of publications
Wednesday, Oct 20, 2004
Financial Daily from THE HINDU group of publications Wednesday, Oct 20, 2004 |
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Industry & Economy
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Jute 2 NJMC mills proposed for jt sector Our Bureau
Kolkata , Oct. 18 THE Union Textiles Ministry has proposed to place two of the six sick mills of National Jute Manufactures Corporation (NJMC), a PSU, in the joint sector. Mr Shankersinh Vaghela, Union Textiles Minister, told presspersons after an interactive session organised by the Merchant Chamber of Commerce here on Monday, "As of now, it's loud thinking, which is worth sharing for an experiment in the revival of the two mills, located in West Bengal." Mr Vaghela said, "We have just begun sounding out the jute entrepreneurs about the proposal. "The two mills would require capital infusion of Rs 15 crore each." The broad outline of the proposal entails hiving off the mills from NJMC, participation in the equity by private sector partners and handing over control to a new management, which will have joint participation. "Interest of the workers will not be compromised in such a plan," said Mr Vaghela. Of the six NJMC units, one is located in Bihar and the rest are in West Bengal.
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