Kerala - Thiruvananthapuram   

All set for Keltec take over

Thiruvananthapuram: Industries Minister Elamaram Karim visited the Kerala Hitech Industries (Keltec) which is being taken over by the Centre, here on Wednesday. It was mainly to review the arrangements for the function being held on December 31 for the formal take over of the company. He was received by G.M. Nair, managing director, and employees of the company. The MD and the conveners of various sub-committees reported the arrangements made for the function at a meeting which was chaired by the Minister. The meeting resolved to make the exhibition of missiles, being organised in connection with the function a grand success. The Minister interacted with the staff during the one hour that he spent at the company. He spoke about the benefits to the staff and the industrial sector of the State due to the take over.

Another major development is likely to take place in the industrial front in this part of the State on December 31. And that is the formal handing over of the Thiruvananthapuram Spinning Mill in Balaramapuram to the Kerala State Textiles Corporation by the Official Liquidator, for revival.

The history behind this take over begins with the spinning mill being referred to the Board for Industrial and Financial Reconstruction (BIFR) in 1993 following financial difficulties and accumulated loss. On its advice, the High Court stopped the functioning of the mill in 2004 and handed over its assets to an Official Liquidator. Following that, the government approached the High Court for permission to revive the mill and pleaded for saving it from liquidation. It also entrusted the Textile Corporation with the task of speedily implementing the revival scheme.

The implementation of the revival scheme will get underway after the function on December 31. The government has already sanctioned around Rs.4 crore for the revival of the mill.

The revival of the mill, it is pointed out, is a longstanding demand of the workers and the local people.

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