National Textile Corporation (NTC) has planned to sell 1,000 acres at prime locations throughout India from March 2008. NTC has marked land in cities like Kolkata, Mumbai, Bangalore, Kanpur and Indore.
NTC has set a minimum target of Rs 1,500 crore to be acquired through this sale. Estimates suggest that NTC will make approximately Rs. 3,000 crore from this sale. NTC wants to completely modernise 22 mills by setting up imported and indigenous machinery; 13 out of the 22 mills will be modernised by the end of 2007.