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The Board for Reconstruction of Public Sector Enterprises has appealed to the Defence Ministry to take possession of the closed Hindustan Cables’ land.
The Chairman of BRPSE, Mr Nitish Sengupta, said that it was not possible to revive Hindustan Cables which used to manufacture cables for the power and telecom sectors.
He told reporters that with the advent of optical fibre cables, the company lost business to rivals and ultimately became sick and could not be revived.
Hindustan Cables owned huge tracts of land at Rupnarayanpur in West Bengal, Naini near Allahabad and Hyderabad.
Mr Sengupta said that following BRPSE’s request, the Ordnance Factory Board had visited the sites and expressed interest to take over all the three to set up their manufacturing units.
Meanwhile, NTPC had expressed interest to take over the land in West Bengal to set up a power plant and RINL for the Hyderabad property.
Although Hindustan Cables was not making any production, it was still a legal entity.
Referring to Tyre Corporation, he said BRPSE had suggested that it was also not possible to revive the company.
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