Govt to revive AFT and other 2 mills using PPP model

YarnsandFibers News Bureau 2017-01-31 11:00:00 – Puducherry

The Government is keen on taking steps to rehabilitate Anglo French Textiles (AFT) mill and two other textile mills Swadeshi and Bharathi in Puducherry through the Public Private Partnership (PPP) mode, said Chief Minister V. Narayanasamy.

A committee headed by a retired IAS officer and those in the textile industry had been constituted to go into the proposal.

The century old AFT mill had remained closed since 2015 following mounting losses, rapid erosion of net worth of the company, and prevailing labour unrest because of non-payment of statutory dues to employees. The company had been facing financial crisis, short of cash even to meet on its day-to-day operations.

The Chief Minister said that the new industrial policy of the government had started attracting entrepreneurs to the Union Territory. Twenty two enterprises from Tamil Nadu and Puducherry had shown interest in setting up industries in Puducherry and Karaikal regions with a total investment of ₹500 crore. These industries would generate 1,000 jobs.

The government-owned Pondicherry Industrial Promotion Development and Investment Corporation (PIPDIC) was providing land at low rent and industrial sheds to entrepreneurs to start their units. The industrial zone in Polagam in Karaikal would be used for promoting industries in the private sector

Mr. Narayanasamy said that Puducherry and Karaikal regions had been severely hit by monsoon failure causing heavy crop loss. He urged Prime Minister Narendra Modi and Union Home Minister Rajnath Singh to depute a team to assess the impact of drought in Puducherry and Karaikal and release sufficient funds for giving relief to farmers.

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