State-owned public sector undertakings in the district have drawn up major growth projects after a year of commendable performance.
According to the Industries Department, Travancore-Cochin Chemicals has proposed a modernisation project to enhance caustic soda production capacity from the current 175 tonnes per day to 225 tonnes.
Among other State PSUs, Transformers and Electricals Kerala (TELK) has proposed a manufacturing facility for solar transformer and a unit to manufacture power system reactor.
At the same time, Kerala Electrical and Allied Engineering (KEL) has proposed the manufacture of motors for electric vehicles, while TRACO Cable Company will set up a manufacturing facility for railway traction wires including testing a laboratory.
Public Sector Restructuring and Audit Board Chairman M.P. Sukumaran Nair said the overall loss incurred by State PSUs in 2015-16 amounted to ₹131.87 crore. It was brought down to ₹80.67 crore in 2016-17. In 2017-18, they reported a net profit of ₹104 crore. As many as 14 PSUs made profits, while 13 cut their operating losses.
There are 42 PSUs under the Department of Industries, and they include seven units in the chemical sector; two in ceramic and refractory segments; four in electrical equipment sector; six engineering units; three electronics units; nine textile units; six units in traditional sector; four units engaged in developing infrastructure, and one wood-based unit.
Measures to turn around the PSUs included professionalisation of the management of various units; constitution of a monthly monitoring system; Plan fund support for diversification, modernisation and revival as well as enhanced budgetary support. The budgetary allocation was raised from ₹123 crore in 2016-17 to ₹283 crore in 2017-18.
