Govt to revive only viable PSUs : Dev

Kolkata, May 31 (UNI) Heavy Industries and Public Enterprises Minister Santosh Mohan Dev today said the Government would revive the viable PSUs, but not those those left out of all hopes.

"The viable companies will be revived but those without any hope for survival despite support and assistance, will not be revived," he said after attending a review meeting of a number of CPSUs, including Bridge and Roof Co. (I) Ltd and Hindustan Cables Ltd.

The Minister said while some companies, including Bridge and Roof Co.(I) Ltd were doing well, companies like Mining and Allied Machinery Corporation Ltd (MAMC) and Hindustan Cables Ltd had not performed well.

Bridge and Roof Co. (I) Ltd has registered a turnover of Rs.

610.44 crore during 2006-07, achieving a 20 per cent growth over the previous year's.

Mr Dev also reviewed the implementation of the Rs. 103 Crore-package, which was approved for the company in August 2005.

The company has signed a MOU with the Ministry to achieve a turnover of Rs. 700 Crore.

Stating that the country's infrastructural investment needs were estimated to be around Rs. 600,000 crore in the next few years, Mr Dev expected a greater role of B and R in the area.

The Minister also reviewed the status of Bharat Opthalmic Glass Ltd, Durgapur, MAMC and Rehabilitation Industries Corporation Ltd.

As far as HCL is concerned, IIT, Kharagpur, has been engaged to conduct a detailed techno-economic viability study on revival of HCL through manufacture of alternate products.

The main recommendation of the study is for diversification of product portfolio of HCL with fresh investment and restructuring of existing facilities.

Appreciating the results of the study, Mr Dev assured that a positive action would be taken when the government received the final report.

Today's meeting was also attended by Heavy Industries and Public Enterprises Secretary R C Panda and other senior officials of the Ministry.

UNI