Kerala - Kochi   

Minister to convene meet for Trayons revival on March 1

KOCHI: Industries Minister Elamaram Karim will convene a meeting of the stakeholders of Travancore Rayons Limited, Perumbavoor, on March 1, with a view to discussing the future of the unit which had been remaining closed for over eight years.

Though the Dubai-based Midland group had expressed willingness for taking over the company, several bottlenecks are yet to be cleared. The meeting is expected to arrive at an appropriate decision so as to facilitate revival. The meeting will be held at Thiruvananthapuram, according to sources associated with the revival process.

Officials of the Industries department, trade unions, promoters and people’s representatives, apart from the company executives will take part in the deliberations.

The meeting is being viewed as a crucial step in the revival of the company as several efforts in the past had failed to arrive at a consensus.

While the promoters are understood to be ready to settle the dues as per a broad agreement, the question of redeploying the employees of the company remains unanswered.

The company which had over 1,000 employees may not be able to absorb all as the products planned by the promoters are different from those manufactured earlier.

The existing employees will have to be trained for the task.

There are practical difficulties in the process and the promoters have raised apprehensions over the issue. Though the trade unions had come together to facilitate the revival, there had been no unanimity in solving the issue of redeployment of employees.

There had been a demand that the company be taken over by government organisations such as Kinfra and KSIDC in case the present effort for takeover by the promoters fail.

INTUC, one of the prominent trade unions of the closed unit, had come out with such a demand at a meeting held at Perumbavoor last week.

The government, on its part, has to provide details of its efforts for revival of the company to the High Court soon, as the court had given an opportunity to the concerned for revival of the company, in a petition filed before it to wind up the company.

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