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Andhra Pradesh
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Hyderabad
IDPL may be revived
Special Correspondent
HYDERABAD:
The Indian Drugs and Pharmaceutical Ltd (IDPL) is likely to be revived next month, according to the IDPL Staff and Workers' Union.
P. Rama Krisha Reddy, working president, said in a press release that the Chemicals and Fertilizers Ministry had taken a decision on the revival after approving a project by the Board for Industrial and Financial Reconstruction.
The Ministry had constituted an expert committee go into the financial feasibility of the company.
Mr. Reddy said the report suggested write-off of Government loans, including VRS funds, totalling Rs. 1,970 crores and loans from banks and PSUs of Rs. 810 crores.
It recommended cash infusion of Rs. 204 crores as interest-free loan.
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