The Hindu Business Line : BHPV chief allays survival fears

THE Chief Minister, Mr N. Chandrababu Naidu, has written to the Prime Minister expressing concern over the present position of Bharat Heavy Plates and Vessels (BHPV) unit here and workers can be rest assured that all steps will be taken to nurse it back to financial health, Mr Shailendra N. Roy, Managing Director, has said.

The assurance was given by Mr Roy on Monday while addressing workers on the occasion of the Republic Day. Senior worker, Mr P.V Narasimha Murthy, was given the opportunity of unfurling the flag. "I am aware that there are doubts in the minds of many of you regarding the survival of this organisation. You all know that since I assumed charge, I am sparing no effort to get orders and execute them on time. The Chief Minister himself has written to the Prime Minister, seeking special grants to turn the plant around,'' he told the workers.

While the order-book position during 2002-2003 was only Rs 28 crore, BHPV had already bagged orders to the tune of Rs 170 crore during this financial year, taking the total to Rs 188 crore, he said.

The major orders were from IOC Panipat Refinery (Rs 78 crore), Kochi Refineries Ltd (Rs 30 crore) and the Nuclear Power Corporation, Mumbai, Rs 47 crore. The plant had delivered 22 hairpin heat exchangers for the NPC during the previous year and bagged orders for 88 more during this year, he said.

Several orders were in the pipeline from customers such as Chennai Petroleum Corporation Ltd, Kerala Mining and Minerals Ltd and the HPCL, Vizag. Tie-up with Reliance, L&T and Thermax was also being considered to execute some of the orders, he said. Mr Roy said the unit had submitted bids for projects worth Rs 1,263 crore during the financial year and offers worth Rs 546 crore were under the consideration of customers. It may be noted that the accumulated losses of BHPV had been put at over Rs 180 crore and the workers were apprehensive that the unit may be referred to the BIFR. The board meeting is scheduled to be held soon in New Delhi to discuss various issues relating to the unit.

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BHPV chief allays survival fears