The Tamil Nadu Government is gearing up to modernise five cooperative spinning mills.
Disclosing this here today, G Santhanam, Secretary, Ministry of Handlooms and Textiles said the State has proposed to modernise five cooperative spinning mills at an investment of Rs 104 cr.
Speaking on the sidelines of the Cotton Conference hosted by the Indian Cotton Federation (formerly SICA), Santhanam said "there is also a proposal to reopen a closed mill in Ramnad. The investment on putting new machinery in this unit is estimated at Rs 18 crore," he added.
The total spindelage in the five units that are expected to be revived is one lakh, the Secretary, Handlooms and Textiles said.
Answering a query, Santhanam said "these units have reported monthly combined profit of Rs 50 lakh since June, making the Government consider the need for reviving them."
The mills include the units located at Pudukottai, Dharmapuri and Krishnagiri.