The Cabinet Committee on Economic Affairs (CCEA) has approved the Rs 1,083-crore revival package of HMT, official sources said.
The package includes cash infusion to the tune to Rs 450 crore and another Rs 630 crore non-cash assistance.
The package is aimed at turning the loss making company to profit-making one over five years by increasing production, sources said.
The cash component of the package would be used for modernisation, meeting the working capital needs and for wage revision.
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