Friday, Dec 31, 2004
Friday, Dec 31, 2004 |
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Advts: Classifieds | Employment | Obituary | Kerala
By Our Staff Reporter
KOCHI, DEC. 30. In dire need of fresh infusion of working capital, Fertilisers and Chemicals Travancore (FACT) is likely to seek Rs.100 crores from the Union Government either as a grant or as a loan for which the Government will stand guarantee. The money is needed to take the company forward during the next three months, it is learnt. The annual general meeting of the company was held here on Thursday. It took into account the financial results of the company for 2003-2004 and considered some routine matters. The company's Chairman and Managing Director, S. Balan, he expected a decision on Central assistance for the company soon.
Voluntary retirement
He said that the FACT management was waiting for the response of the employees to the fourth round of voluntary retirement scheme which was opened more than a month ago. The employees have another month to opt for the scheme, which is aimed at cutting the staff strength by about 1,000. The third round of the scheme, which ended in February, had seen more than 900 employees retiring taking the golden handshake.
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