FACT unit to be independent entity

FEDO had received about Rs.15 crore in consultancy fees during the last financial year

FACT Engineering and Design Organisation (FEDO), an engineering consultancy part of Fertilizers and Chemicals Travancore Ltd., will be an independent profit centre from January 1.

Chairman and Managing Director of FACT Jaiveer Srivastav told reporters here on Wednesday that FEDO would soon open its offices in Delhi, Mumbai and select centres abroad to cash in on the boom in business seen by the organisation in recent years.

Mr. Srivastav said that turning FEDO, established in 1965, into an independent unit meant that it would have more freedom to make decisions in keeping with market requirements.

FEDO had received about Rs.15 crore in consultancy fees during the last financial year, said a senior FACT official.