TAMIL NADU

FACT in the red

KOCHI NOV. 6. The Fertilizers and Chemicals Travancore (FACT), now on the list of Central PSUs for disinvestment, has run up a loss of Rs. 200 crores during 2002-2003 and is in the red during the current financial year too. The losses have been blamed on the annual Rs. 100-crore additional capital cost on account of the ammonia plant, a cash loss of Rs. 60 crores per year on account of the tax burden for which a relief has been sought from both Central and State Governments and excessive manpower.