| The government is exploring the option of roping in a private partner in Hindustan Cable. It is also considering the option of handing over HMT Chinar to the Jammu and Kashmir government.
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| Official sources say the moves have been discussed as part of the UPA government’s efforts to revive the public sector undertakings. While a final decision will be taken by the Cabinet, the proposals aim at giving a new lease of life to these companies.
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| The plans were considered by the Board for Reconstruction of Public Sector Enterprises at a meeting earlier this week.
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| Both Hindustan Cable, a telecom cable manufacturing company, and HMT Chinar, a 100 per cent subsidiary of HMT Ltd, were put for disinvestment in 2001 and 2002, respectively. The government had then proposed to sell 74 per cent equity in these companies.
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| Hindustan Cable has four manufacturing units, three of which make jelly-filled telecom cables. It has units in Rupnarainpur in West Bengal, Hyderabad, and Naini-Allahabad in Uttar Pradesh.
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| It also has an engineering division to take up turnkey projects. It had a manpower of 3,044 on December 1, 2007. It has a capacity of 12 million conductor kilometres of jelly-filled cables, 40,000 fibre kilometres per annum of fibre optic cables and 2.5 million sets of telephone cords and computer cords.
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| HMT Ltd is a leading Indian manufacturer of a diversified range of products including tractors, watches, machine tools, bearings, printing machinery, metal forming presses, die casting & plastic processing machinery and CNC systems.
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| HMTL was established in 1953 as a government of India undertaking with the objective of manufacturing machine tools. Over the years, however, the company diversified into other products. |
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