The Hindu : Karnataka / Bangalore News : NGEF Employees' Union hails Government move

Online edition of India's National Newspaper
Thursday, Apr 06, 2006

Karnataka

Karnataka - Bangalore

NGEF Employees' Union hails Government move

Staff Reporter

The Cabinet has decided to submit a revival package to the court

Bangalore: The NGEF Employees' Union has welcomed the decision of the State Government to revive the New Government Electric Factory.

The Karnataka High Court on December 22, 2005 terminated the auction proceedings of the assets of NGEF and asked the Government to submit a comprehensive revival package.

The Cabinet on Monday decided to submit a revival package to the court prepared by a group of experts.

Speaking to presspersons here on Wednesday, president of the union G.R. Shivshankar said the previous Government wanted to auction the entire built-up area (80 acres) and non-built up area (90 acres) belonging to the public sector undertaking which the employees had opposed.

"The total market value of the land is Rs. 2,300 crore while the cost of the non-built up area is Rs. 480 crore. We urge the Government to retain the built-up area and sell the unused land of 90 acres," the union president said.

Mr. Shivshankar suggested that the prime land could be used for the metro rail project and also the technology available at NGEF.

Printer friendly page
Send this article to Friends by E-Mail