MIDHANI on modernisation spree to meet ''CHANDRAYAN'' needs

Hyderabad, Apr 2 (UNI) The Ministry of Defence enterprise Mishra Dhatu Nigam Limited (MIDHANI) has embarked on a massive modernisation and upgradation programme to meet the special material requirements for the ambitious 'CHANDRAYAN' project, according to company Chairman and Managing Director M Narayana Rao.

Disclosing the company's audit results here today, Mr Rao said the company had registered an all time high sales turnover of Rs 191.22 crore and gross profit of Rs 27.22 crore during 2006-07.

He said the company had orders valued at Rs 598 crore.

The modernisation and upgradation programme would be partly funded by its strategic customers, besides internal accruals.

The company would also supply materials for the country's Fast Breeder Reactor programmes.

The company, set up primarily for self-reliance in critical materials, had been supporting programmes of national importance in strategic sectors including Space, Defence, Aeronautics and Atomic Energy, he added.

UNI