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State-run National Textiles Corporation has plans to build a commercial building on one of its closed mill plots at the prime Prabhadevi area in Mumbai.
NTC has five closed mills, having a total 45 acres area, in Prabhadevi area of the city of skyscrapers. The proposed iconic building would be set up on one of these mill lands, NTC Chairman and Managing Director, Mr K Ramachandran Pillai, told PTI.
“The building will mainly house offices with arrangements for conference, eateries and so on. The details of the project are also ready,” he said.
“Upon completion of the project, it is not only going to be a landmark in Mumbai; it will also help us to generate a lot of income from rent,” he added.
Mr Pillai said that NTC has already initiated talks with the Maharashtra government for getting various clearances.
Though there certain issues with state government, which he did not elaborate, Pillai hoped that all of them would be sorted out soon and work on the project would commence.
National Textile Corporation was set up by the government for managing sick textile mills in the country.
Powered by proceeds of sales of mill lands in Mumbai and Ahmedabad, NTC had reported nearly four—fold increase in its total income in FY’11 to Rs 2,741 crore. A lion’s share (Rs 2,011 crore) in that was contributed by land sale proceeds.
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