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Mony K. Mathew

Industries Minister likely to visit Delhi next week

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Thiruvananthapuram Jan. 23 The Kerala Government is pressing ahead with its new strategy of energising State public sector undertakings through linkages with Central PSUs.

The positive response of the Indian Railways to the proposal for floating a joint venture for manufacture of lightweight wagons and components at Autokast Ltd has encouraged the State Government to look out for more such opportunities.

According to sources in the Industries Department, an agreement is in sight for a tie-up between Transformers and Electricals Kerala Ltd (TELK) and the National Thermal Power Corporation (NTPC). The proposal envisages equity participation by NTPC in the company to the extent of 49 per cent with the State Government retaining the controlling stake.

The Industries Minister, Mr Elamaram Kareem, is slated to visit Delhi next week to explore the possibilities of entering into similar arrangements for revitalising other State PSUs, which are languishing for want of funds to go in for modernisation and capacity expansion.

Talks with SAIL

The sources said that preliminary discussions are on with Steel Authority of India Ltd (SAIL) for a possible tie-up to revive Steel Complex Ltd at Kozhikode.

The company is engaged in the manufacture of steel billets and steel items for construction purposes.

Efforts are also on to enlist the support of Indian Space Research Organisation (ISRO) for streamlining and consolidating the working of Kerala Hitech Industries Ltd (Keltec).

The proposal is for manufacture and supply of a wide range of critical components required by ISRO on a regular basis and this calls for capacity expansion and skill development at Keltec.

The Minister, while in Delhi, will also seek Central aid for development of commerce in the State. It may be noted that for the first time, the Government is framing an industrial and commercial policy keeping in mind the tremendous potential for commercial activities in the State along with industrial development.

More Stories on : PSU | Securitisation | Kerala

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