Financial Daily from THE HINDU group of publications
Wednesday, Dec 22, 2004
Financial Daily from THE HINDU group of publications Wednesday, Dec 22, 2004 |
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Corporate
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New Projects HEC executes NCL order for electric rope shovels Our Bureau
Kolkata , Dec. 21 THE state-owned Heavy Engineering Corporation (HEC) has successfully executed orders for three 10 cubic-meter-capacity electric rope shovels for Northern Coalfields Ltd (NCL). The shovels are designed for the Nigahi and Jayant opencast coal projects of NCL. Despite a severe working capital problem, HEC has been able to complete the job with the help of an additional cash credit facility from the State Bank of India. According to a press release, Mr S. Biswas, CMD, said it was one of the biggest achievements of the company. Besides the technical achievement, the execution of orders worth about Rs 43 crore will also help ease the corporation's working capital problem. Mr Biswas said the consignment of 10 cubic metre shovels would be the biggest-ever despatched at one go by the company.
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