Industry

Defence Ministry approves takeover of Hindustan Cables: Govt

Defence Ministry has approved the takeover of ailing Hindustan Cables by Ordnance Factory Board, and the Board for Reconstruction of Public Sector Enterprises will take a call in this regard after taking into account views of all concerned Ministries.

“Department of Defence Production, Ministry of Defence has conveyed its ‘in principle’ approval on takeover of Hindustan Cables Limited by Ordnance Factory Board”.

“Based on the ‘in principle’ approval a comprehensive BRPSE note taking into account the views of various stakeholder Ministries is being submitted for the consideration of BRPSE (Board for Reconstruction of Public Sector Enterprises),” MoS for Heavy Industries and Public Enterprises P. Radhakrishnan said in a written reply to Lok Sabha.

Hindustan Cables, which was set up in 1952 at Rupparainpur (West Bengal), has units in different States.

However, the company’s units in West Bengal and Hyderabad producing Polythene Insulated Jelly Filled (PIJF) cables had not been in production since January 2003, as there is no requirement of these cables in BSNL/MTNL.

Similarly, the unit at Naini, Allahabad producing optical fibre cable had also become obsolete due to change in the product specification.

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Printable version | Oct 19, 2020 2:52:44 PM | https://www.thehindu.com/business/Industry/defence-ministry-approves-takeover-of-hindustan-cables-govt/article6233943.ece

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