Kerala - Thiruvananthapuram   

Cabinet approves TELK-NTPC venture

Special Correspondent

Prime Minister Manmohan Singh to lay foundation stone for IIST

THIRUVANANTHAPURAM: The Cabinet on Thursday approved the joint venture of the Transformers and Electricals Kerala (TELK) and the National Thermal Power Corporation (NTPC) proposed for the development and modernisation of TELK.

Chief Minister V. S. Achuthanandan told mediapersons after the Cabinet meeting that the Government would hold 51 per cent of the equity in the joint venture. The NTPC would have a share of 44.6 per cent.

About 4.4 per cent of the shares are now held by the HITACHI company of Japan and some individuals.

An official release from the Industries Minister's office said that the development of TELK would be carried out in three steps with capacity addition. At the third stage, a mobile transformer repair facility would be set up.

The release said that the project would require an investment of about

Rs.190 crore. Of this, 65 per cent would be raised as loans and the balance as equity.

The plant manufactured power transformers, voltage transformers and circuit breakers.

Space technology

Prime Minister Manmohan Singh will lay the foundation stone for the country's first Indian Institute of Space Technology (IIST) near Vithura in Thiruvananthapuram district this year. Mr. Achuthanandan, who had discussions with the Prime Minister and Union Minister for Human Resources Arjun Singh in Delhi early this week, said on Thursday that they had assured him that the work on the Institute would begin this year itself. The Prime Minister had agreed to lay the foundation stone.

He said the Centre had also promised that the proposed Indian Institute of Science Education Research would start functioning this year.

Replying to questions, the Chief Minister said CPI (M) general secretary Prakash Karat was the sole authority to say whether the suspensions had helped to solve the problems in the State unit of the party.

Avoiding a direct comment on the disciplinary action, Mr. Achuthanandan said the media should ask Mr. Karat and report on the matter. Mr. Karat would attend the State-level meetings of the party beginning on June 15.

He denied that the eviction of encroachers and demolition of unauthorised constructions had slowed down at Munnar. There might be delay on account of rains or time needed for serving notices on demolition.

The Chief Minister said the Cabinet would consider the proposed Ordinance for declaring Munnar as special zone next week after discussions in the LDF.

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