West Bengal government has decided to disinvest Durgapur Chemicals, a state-run unit here, and a letter to the effect from the state secretariat was received by Durgapur Chemicals today.
The letter said a Cabinet meeting on August 17 held at the state secretariat felt that the company was increasingly becoming sick and it was decided that the government would disinvest it, Durgapur Chemicals officials said.
The decision spelt gloom for its 100 permanent staff and a large number contractual workers.
Durgapur Chmicals was set up in 1963 and went on stream in 1968. It mainly produced phenol, caustic soda, hydrochloric acid, naptha, chlorine and other chemicals but turned sick later.
The government had earlier decided to close it but decided on disinvestment so that the workers could get a chance to work, the sources said.
INTTUC leader Prabhat Chaterjee said any decision that is taken about the compnay by Chief Minister Mamata Banerjee will not be against workers. "She must have taken the decision to disinvest for the good of the workers," he added.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)