The Kochi unit of the Hindustan Organic Chemicals Limited (HOCL) is back on the rails after resuming production early February and making a profit under favourable market conditions.
However, employees under the aegis of Save HOCL Joint Action Council has expressed concern at what they called diversion of profit and working capital from the unit here, possibly paving the way for its closure in the long-run.
Convenor of Save HOCL Joint Action Council K.S. Prakashan said a delegation of the employees had submitted a memorandum to Minister for Chemicals and Fertilisers Ananth Kumar in Delhi on Friday last, highlighting their fears about the Kochi unit and the possibility of its closure under the current circumstances. Mr. Prakashan said the Minister aired no objections to a suggestion that the Kochi unit be hived off to make it stand alone. This was conveyed during a meeting of MPs on February 27, he said.
