Czech Republic to help India modernise heavy industry

India has signed a protocol with Czech Republic to promote bilateral cooperation in the field of heavy industry, especially in industrial cooperation and facilities construction, the Union Cabinet was apprised today.
The protocol includes modernisation of the existing facilities in India by the Czech companies, including modernisation of three plants of Heavy Engineering Corporation and a central public sector enterprise (CPSE) under the Department of Heavy Industries at Ranchi, set up with Czech support in early 1960's.
"The aim of the protocol is to promote bilateral cooperation...In the field of heavy industry on the principle of mutual convenience and benefit, in accordance with the laws valid on the territories of the states of the Parties and their obligations resulting from other international agreements," an official statement said.