You are here: Home » PTI Stories » National » News
Business Standard

Portion of National Instruments Ltd. Land to be given to DRDO

Press Trust of India  |  New Delhi 

A portion of land of an erstwhile PSU will be given to DRDO to set up a research centre for advanced technology.

The Union Cabinet today approved transfer of a portion of land and building of erstwhile National Instruments Limited by Jadavpur University in to the Defence Research and Development Organisation on long term lease.

The land will be used for establishment of a defence research centre, Jagadish Chandra Bose Centre for Advanced Technology (JCBCAT).

Transfer of a portion of the land and building of the erstwhile company to DRDO for will be beneficial as research and development efforts are expected to result in reduction in import dependence in the strategic sector, an official statement said.

The National Instruments Limited Jadavpur University was a Central Public Sector Enterprise. As it became sick, its assets, liabilities and manpower were transferred to Jadavpur University on January 1, 2009 under the Board for Industrial and Financial Reconstruction sanctioned revival scheme.

As per the revival programme, the land of the PSU transferred to Jadavpur University will be used for research, project works, pilot plant study and the land will not be alienated, sold, leased, transferred without approval of the central government.

First Published: Wed, June 17 2015. 17:28 IST