Metal Box Pens Revival Plan For Kolkata Unit

Metal Box India Ltd (MBIL) has chalked out a separate rehabilitation plan for its Kolkata unit, in which the pending gratuity-dues of about 1,550 ex-employees will be sorted out.

The company has asked the West Bengal government to sanction a soft loan of Rs 5crore, of which Rs 3 crore will be used to settle these dues and the rest will be used to reopen the unit. The firm is hoping to re-open the unit by the 2nd half of 2004.