Textiles manufacturer Alok Industries is to join forces with National Textile Corp (NTC) to renovate and operate two struggling state-run mills in Mumbai and Aurangabad.

The companies are poised to establish joint venture companies to transform the textile mills into clothing manufacturing units.

The two mills, employing up to 500 workers each, are located at the New City of Bombay Manufacturing Mills, Mumbai; and at Aurangabad Textile Mills, Aurangabad.

According to information lodged with the Bombay Stock Exchange, Alok successfully bid for the right to establish the joint ventures to renovate and operate the mills, which are believed to be unsustainable in their current form.

The plans are part of an ongoing programme by NTC to encourage public-private partnerships to revamp struggling textile mills across India.