Sale of Surplus Land of PSUs

Sale of Surplus Land of PSUs

An in-principle decision has been given by the Cabinet Committee on Economic Affairs (CCEA) in respect of four closing companies, viz. HMT Chinar Watches Ltd., HMT Watches Ltd., HMT Bearings Ltd. and Tungabhadra Steel Products Ltd. (TSPL) that after their closure, their land would be transferred/sold to Central Government Ministries / Departments / CPSEs / Public Sector Banks/State Government Departments or their entities. The land will be sold/transferred by following the Expression of Interest (EOI) route. In case of land taken on lease from state governments, the same has been approved for being returned to them as per lease conditions.

This information was given by Minister of State in the Ministry of Heavy Industries and Public Enterprises Shri Babul Supriyo in reply to a written question in the Rajya Sabha today.