Govt draws strategy to revive Hindustan Cables

Govt draws strategy to revive Hindustan Cables

New Delhi: The government is drawing a strategy to revive the ailing Hindustan Cables Limited (HCL), a state-owned company that manufactures optic fibre.

As part of the revival strategy, an official of the Ministry of Heavy Industries and Public Enterprises said, profit-making Public Sector Units (PSUs) and Indian Railways would be urged to give orders to HCL.

“The ministry had recently issued instructions to the Department of Public Enterprises to draw in other departments and PSUs, aimed at creating synergy between the company and other PSUs, so that they can complement each other," the official added.

The strategy for revival of HCL, he said, was also reviewed by the minister of state for Heavy Industries and Public Enterprises Arun Yadav recently.

The ministry would also be reviewing other sick units like Hindustan Salts Ltd and Triveni Structurals Ltd.

According to the Public Enterprises Survey, the Board for Restructuring of Public Sector Enterprises, till October 2008, has recommended the revival of 54 Central Public Sector Enterprises (CPSEs). But the government approved only 33 proposals for revival, besides winding up of two units.

The Kolkata-based company also manufactures and supplies telecommunications jelly filled cables and telecom turnkey services.