The Hindu Business Line : 15 Kerala PSUs register profits

The profit-making units and agencies include Kerala Minerals and Metals Ltd (KMML), Kerala State Industrial Development Corporation (KSIDC), Malabar Cements, Kerala Automobiles Ltd, Kerala State Industrial Enterprises, Steel and Forgings Ltd, Kerala Hi-tech Industries, Travancore Cochin Chemicals (TCC) and Travancore Titanium Products (TTP).

The Industries Minister, Mr V.K. Ibrahim Kunju, said here on Tuesday that since the present Government assumed office, the total sales turnover of the PSUs rose from Rs 1,200 crore to Rs 1,380 crore. Besides, six units could reduce their losses during the period.

He said that expansion projects worth Rs 750 crore had been initiated at KMML, as part of which the production increased from 22,000 tonnes to 40,000 tonnes. The production has been targeted to reach 60,000 tonnes by 2006-07.

More importantly, the company has initiated preliminary steps to set up a 10,000-tonne titanium sponge plant.

In the case of TTP, the Government has sanctioned a project costing Rs 256 crore to establish pollution control devices as also to raise the daily production of titanium dioxide pigment from 45 tonnes to 100 tonnes. The loss-making TCC has become profitable after introducing membrane cell technology.

The Minister said the Government would soon sign an agreement with Kolkata-based TCG Urban Infrastructure Holdings as a joint venture partner for the biotechnology park being promoted by Kerala Industrial Infrastructure Development Corporation (Kinfra) at Kalamassery near Kochi.

The joint venture partner will invest Rs 50 crore in the project. Meanwhile, the work on the incubation centre at the park had been progressing well, he said.

Another promotional agency under the Industries Department, KSIDC, is now working as the nodal agency for a slew of projects such as the port-based Special Economic Zone, LNG terminal and the Free Trade and Warehousing Zone, all in Kochi. KSIDC has also approved projects worth Rs 357 crore over the last four years, toward which it has advanced loans to the tune of Rs 158 crore.

In the traditional industries sector, the Kerala State Cashew Development Corporation has been able to provide jobs for 213 days in 2005 and for 232 days continuously. The Government has also issued orders to revise the salary and other benefits of the employees of the corporation.

The Minister said that the Government's policy was to retain the profit-making enterprises in the public sector itself and restructure those, which could be turned profitable, by extending one-time assistance. As part of it, the Government has introduced a voluntary retirement scheme for the employees and a social security net programme.