Visakhapatnam, Oct 10 (UNI) Hindustan Shipyard Limited (HSL) Employees Union General Secretary G Appa Rao today appealed to Union Minister for Shipping, Road Transport and Highways T R Baalu to extend the term of HSL Chairman and Managing Director Ajit Tewari for at least two years.
In a representation made to the Union Minister, he said the ministry should extend Mr Tewari's term in recognition of his contributions during the past four and half years in reviving the company, which had been facing crisis with an empty order book.
However, according to HSL sources the decks had been cleared for the company's takeover by the Defence Ministry, with the Shipping ministry reportedly putting its stamp of approval on the proposal.
The Defence Ministry was keen on expediting the takeover process as the shipyard, set up in 1941, was strategically located. The HSL is close to the Eastern Naval Command (ENC) headquarters here and the ENC was also planning to establish a futuristic Naval Base near Rambili Mandal in the district.
The HSL presently had an order book of Rs 2,000 crore and the Defence Ministry was ready to place orders amounting to Rs 1,000 crore once the yard was brought under its control, Mr Appa Rao said.
UNI BSR SJ 1546