Business Daily from THE HINDU group of publications
Monday, Sep 10, 2007
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Business Daily from THE HINDU group of publications Monday, Sep 10, 2007 ePaper |
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Sick Units Industry & Economy - Real Estate & Construction States - Kerala Kerala Govt addresses concerns on handover of Trayons land
Promoters, Kochi-based Elenjical Group, given 73 acres for manufacturing. Have reached agreements with trade unions on reinstating workers, settling dues. To invest Rs 250 cr in reviving/modernising unit, employ over 1,500.
G.K. Nair Kochi, Sept. 9 The Kerala Government dispelled apprehensions raised about handing over 73 acres of land belonging to the sick Travancore Rayons Ltd (TRL) at nearby Perumbavoor to the new promoter saying that the land would be handed over on a 99-year lease and would be used exclusively for industrial manufacturing. In addition, the promoters, Kochi-based Elenjical Group, would have to obtain Government permission to take up any new projects on the TRL premises. The Industries Minister, Mr Elamaram Kareen, has convened a meeting of all concerned on September 13 to clear the concerns raised by certain sections of society and some Malayalam dailies. Earlier proposals
Mr Kareem, in reply to a submission made by the Perumbavoor MLA, Mr Saju Paul, had earlier said that the State Government had retained most of the proposals made in the memorandum of agreement reached in July 2004 by its predecessor with the Coimbatore-based NDEE group, the earlier promoter. On similar lines but with certain changes, a memorandum of agreement would be signed with the new promoter soon, since the State Cabinet has accepted the revival package of the Elenjical group and a Government Order was issued on August 13, he said. Before the Cabinet’s decision, the proposal was studied and evaluated in detail by a high-power sub-committee headed by the Principal Secretary, Industries department, he said. Mr Saju Paul said that the present LDF and the previous UDF Governments showed keen interest in re-opening the TRL unit which has been under lay-off for over six years. All the trade unions, irrespective of their political affiliations and ideologies, also unanimously demanded the company’s rehabilitation by the prospective promoters, the Elenjical group, he said. The promoters and the trade unions have already reached agreements on reinstating the workers, settling their outstanding dues, and issues relating to their service and wages conditions. He said that the promoters have agreed to invest Rs 250 crore for reviving/modernising the unit that would generate employment to over 1,500 people. It was at this juncture that a campaign had been launched against the deal based on false information, he said. He has urged the Government to speed up re-opening the unit.
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