The National Textiles Corporation (NTC) has generated Rs. 6,154 crores from the sale of surplus land. As on June 30, 2013, NTC has sold 1,476.03 acres and has generated sale proceeds worth Rs. 6,154.94 crores. Besides, the total area of excess land available with the company for sale is 2,774.70 acres.
Sale of land is being effected by NTC as per the revival plan approved by the Government and sanctioned by the Board for Industrial and Financial Reconstruction (BIFR). The plan being self-financing, the resources are to be generated by sale of surplus land and assets.
Based on the Techno-Economic Viability Study (TEVS) conducted by textile research associations (TRAs), BIFR approved the revival scheme for NTC in 2002 and subsequently modified it in 2006 and 2008.
As per the scheme approved by BIFR, NTC has closed down 78 mills. Presently, 23 NTC units are functioning in the country.