Bhubaneswar:
The government of Odisha is taking steps for sale or Joint Venture of loss making state PSUs like IDCOL Ferro Chrome and Alloys (IFCAL) and IDCOL Kalinga Works ltd (IKIWL). For this the state government is in talks with Central Public Sector Enterprises, Odisha Minister for Industries Niranjan Pujari has said.
Though the state cabinet had cleared the proposals for restructuring the loss making PSUs in September, 2010, it is yet to see any progress. However, now the government has decided to accelerate the process along with the Central Public Sector Enterprises.
It may be noted that Central PSUs like SAIL and NALCO have already evinced interests in picking up stakes in IFCAL and IKIWL. As per initial estimates IFCAL and IKIWL will need Rs 250 crore and Rs. 2500 crore for restructuring. IKIWL has incurred a loss of Rs 27 crore in 2011-12.
Reported by Tapan Moharana
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