The Hindu : Kerala / Thiruvananthapuram News : Better show by PSUs under Industries Department: Minister

Online edition of India's National Newspaper
Wednesday, Dec 14, 2005

Kerala

Kerala - Thiruvananthapuram

Better show by PSUs under Industries Department: Minister

Special Correspondent

With three more units turning the corner

THIRUVANANTHAPURAM: The performance of public sector units (PSUs) under the Industries Department has improved with three more units turning the corner, Minister for Industries V.K. Ebrahim Kunju said here on Tuesday.

The number of profit-making units increased from 12 in the previous year to 15 this year while six units reduced their losses. There are 49 PSUs under the department.

The Minister said that the Cabinet had cleared a project of the Kerala Minerals and Metals for setting up a 1,000 metric tonne titanium sponge plant. Production of titanium dioxide by the factory would be raised from 40,000 tonnes to 60,000 tonnes by 2006-07.

The Travancore Titanium Products proposed to increase the production of titanium dioxide from 45 tonnes to 100 tonnes. The Government had approved the plan of the company to set up pollution control measures at a cost of Rs.256 crores. It had achieved record sales this year.

Mr. Kunju said that the Travancore Cochin Chemicals could be brought out of the red by implementing the membrane cell technology. The Steel and Industrial Forgings could turn the corner, wiping out an accumulated loss of Rs.15 crores.

The Minister announced that an agreement would be signed shortly between the State Infrastructure Development Corporation (KINFRA) and the TCG Urban Infrastructure Holdings for jointly developing the proposed biotechnology park at Kalamassery.

The works on the incubation centre there was under way. Construction of the textile park at Kannur and the animation zone at the Film and Video Park at Kazhakoottam near here was also progressing.

The State Cashew Development Corporation, he said, could provide employment to its workers for 232 days continuously. Of these 213 days fell in the current year.

It would be possible to provide them 300 days of employment during this financial year. This was a record and that called for a celebration. The wages of workers had been increased by 35 per cent.

Mr. Kunju said that the Government proposed to revive public sector units if possible through a one-time support. Of the Rs.50 crores set apart for this purpose, Rs.41 crores had already been spent. Six public sector companies had become defunct and companies that could not be revived would be closed down.

The Government had already spent Rs.135 crores on the voluntary retirement scheme (VRS) in various Government companies.

As many as 5,343 persons had availed themselves of the VRS and this had helped to improve profitability of the companies. It had also issued orders permitting migration of workers from one PSU to another.

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