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The Cabinet Committee of Economic Affairs (CCEA) on Wednesday approved a restructuring plan for loss-making, state-owned Hindustan Organic Chemicals Ltd (HOCL).
Under the plan, worth Rs 1,008.67 crore, one of the two HOCL plants will be shut down.
HOCL has units in Rasayani (Maharashtra) and Kochi (Kerala). Most of its plants have remained shut during the past few years. According to the restructuring plan, HOCL's unit at Rasayani will be closed down while that unit’s di-nitrogen tetroxide plant will be transferred to the Indian Space Research Organisation.
A statement issued by the Press Information Bureau said the
Under the plan, worth Rs 1,008.67 crore, one of the two HOCL plants will be shut down.
HOCL has units in Rasayani (Maharashtra) and Kochi (Kerala). Most of its plants have remained shut during the past few years. According to the restructuring plan, HOCL's unit at Rasayani will be closed down while that unit’s di-nitrogen tetroxide plant will be transferred to the Indian Space Research Organisation.
A statement issued by the Press Information Bureau said the
