SAIL, BHEL, HMT to take over three sick PSUs

The government has identified three sick public sector units (PSU), which will be either merged or taken over by the Steel Authority of India Ltd, Bharat Heavy Electricals Ltd and Hindustan Machine Tools, Minister of State for Finance Nirmala Sitharaman said in a written reply to the Lok Sabha Friday.

The three sick companies are Praga Tools Ltd, Bharat Heavy Plates Vessels Ltd and Bharat Refractories Ltd.

"On the recommendation of the Board for Reconstruction of Public Sector Enterprises (BRPSE), concerned administrative ministries/departments have taken approval of the competent authority for the mergers/takeovers," she said.