Speed up Burn Standard takeover: Heavy Indus Ministry to Rlys
Press Trust of India / New Delhi Jul 07, 2009, 17:06 IST
The Heavy Industries and Public Enterprises Ministry has asked its counterpart in Railways to expedite the process of taking over ailing wagon manufacturer Burn Standard, the Rajya Sabha was informed today.
In the Railway Budget announced on July 3, the Railways Ministry proposed to acquire 18,000 wagons under the rolling stock programme during 2009-10 and also take over wagon units of Burn Standard and Braithwaite.
"The matter has been taken up with the Ministry of Railways for the takeover of the wagon manufacturing units of Burn Standard and to expedite the modalities for their transfer to Ministry of Railways," Minister of State of Heavy Industries and Public Enterprises Arun Yadav said in a written reply to Parliament today.
At present, Burn Standard produces around 800 wagons per year against an installed capacity of 3,500 units from its Howrah and Burnpur facilities.
The company has been suffering huge losses over the last three years. As per the figures provided by the junior minister, in 2007-08 alone the company's loss stood at Rs 15,129 lakh.
Content Guide
