The Hindu : Rescue package for BHPV sought

Online edition of India's National Newspaper
Thursday, Mar 11, 2004

Andhra Pradesh

Andhra Pradesh - Visakhapatnam

Rescue package for BHPV sought

By Our Staff Reporter

VISAKHAPATNAM, MARCH. 10. The Centre for Indian Trade Unions (CITU)-affiliated Bharat Heavy Plate and Vessels (BHPV) Employees Union has sought an immediate bail-out package for Bharat Heavy Plate and Vessels Limited.

Addressing a press conference here on Tuesday, the honorary president of the union, Ch. Narasinga Rao, and the general secretary, S. Jyotiswara Rao, said that the BHPV was one-of-a-kind industry in the country with rare engineering skills and that it had the potential to become viable with a financial package by the Centre.

They pointed out that BHPV had won the appreciation of the Aeronautical Development Agency (ADA) for the five types of heat exchangers designed and developed by it for the light combat aircraft project.

They feared that the Centre was preparing the ground for privatising the company. "The management cites lack of working capital for undertaking the work orders, but has spent over Rs. 100 crores in implementing the voluntary retirement scheme. Another instalment of VRS for 500 employees is being offered this month,'' they claimed.

The union demanded that the Centre accept the recommendation made by a Parliamentary Committee for merging BHPV with BHEL.

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