Govt to set up forging institute for auto-sector near Pune

New Delhi, Aug 21 (UNI) Ministry of Heavy Industry and Public Enterprises is settingup a high-tech forging institute for component testing, development and training near Pune in Maharashtra at an estimated cost of Rs 22 crore to boost the medium sector automobile component industry.

Announcing the Ministry's two years performance under the UPA regime, Heavy Industry and Public Enterprises Minister Santosh Mohan Dev said the institute would help a large number of auto-ancillary units to tap the export market.

During his tenure, he said, some of the sick units, which were about to the closure, have been revived.

India has emerged as the biggest manufacturer of tractors and the second largest manufacturer of two wheelers in the world, he informed.

At the initiative of his Ministry, he said, the Prime Minister has announced a rehabilitation package of Rs 138 crore for 16 public sector companies.

Responding to the queries, Mr Dev said HMT's loss-making Uttaranchal-based mechanical watch manufacturing unit is under scanner Government would soon announce an appropriate plan for the unit.

He said 13 of the 34 PSUs under his Ministry have together earned a profit before tax (PBT) to the tune of Rs 825 crore for the year 2005-06.

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