30 CPSEs set up in last 3 years: Patel
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30 CPSEs set up in last 3 years: Patel

Last Updated: Thursday, March 7, 2013, 17:38
 
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30 CPSEs set up in last 3 years: Patel
New Delhi: As many as 30 Central Public Sector Enterprises (CPSEs) such as Mahanadi Basin Power and NMDC Power have been set up in the last three years, Parliament was informed Thursday.

"Between 2009-10 and 2011-12, 30 CPSEs have been set up in the different parts of the country," Minister of Heavy Industries and Public Enterprises Praful Patel said in a written reply to the Lok Sabha.

Setting up of CPSEs in different sectors and in different locations, including rural and backward areas, is based on techno-economic considerations, he said, adding that the administrative ministries concerned take the initiative for setting up CPSEs.

The 30 new PSUs include Mahanadi Basin Power in Orissa, NMDC Power Andhra Pradesh, SAIL Refractory Company (Delhi), PFC Capital Advisory Services (Delhi), BHEL Electrical Machine (Kerala) and HPCL Biofuels (Bihar).

Replying to another query, Patel said, following the recommendations from Board for Reconstruction of Public Sector Enterprises (BRPSE), the government has so far approved the revival of 44 sick CPSEs such as Hindustan Salts, NTC, MECON and NEPA, envisaging total assistance of Rs 27,250 crore from the government.

This comprises cash-assistance of Rs 4,825 crore in the form of infusion of funds and Rs 22,425 crore non-cash assistance in the form of waivers/write offs of interest/loans and conversion of loans into equity.

Till date, 15 sick companies have been declared turnaround which have posted profits consecutively for 3 or more years after the assistance by the government, Patel said.

As on March 31, 2012, there were 64 sick CPSEs.

PTI



First Published: Thursday, March 7, 2013, 17:38


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