Andrew Yule & Company (AY&CO) is a multi-unit, multi product conglomerate with eight operating units under five divisions and is engaged in manufacture, sales and servicing of various industrial products like industrial fans, tea machinery, air pollution control equipment, conveyor belts including steel cord belts, fan and V-belts, switchgears, circuit breakers, contractors, other electrical equipment's and components. Six tea companies consisting of 12 tea gardens in West Bengal and Assam, engaged in cultivation, manufacture and processing of tea became a part of the company from 1st April, 1986.

Transformers and Switchgears Limited, Madras and Brentford Electric (India) Limited, Calcutta were also nationalised and vested in Andrew Yule & Company Limited. The Andrew Yule Group includes a subsidiary, M/s. Hooghly Printing Company. It also has two major associate companies, viz., Dishergarh Power Supply Company and Tide Water Oil Company. The first is engaged in generation and distribution of power and the second in blending and marketing of lubricants. As a part of restructuring programme at the company belting division has been converted to a joint venture company from 1.2.99 with M/s Pheonix, AG Germany Holding 74% the equity and M/s AY& Co. holding 26% of the equity in the new Company. The company is likely to end the year 1998-99 with a production of Rs.288.22 cr.

Hooghly Printing Company Limited is a wholly owned subsidiary of Andrew Yule & Co. Ltd. It was established in the year 1922 for catering to the printing and stationery requirement of the companies under Andrew Yule Group. The Company has embarked on a scheme of modernisation and have invested for installation of a 2 colour HMT offset machine, phototype setting machine, camera and plate making device. The production of the company in 1998-99 is anticipated at Rs. 2.70 cr.

Bharat Heavy Electricals Limited (BHEL) was established in the year 1956 for specially catering to the power generation and distribution equipment needs of the country. BHEL today is a major single point supplier of all systems and equipment required in this important sector of Indian economy. BHEL has 13 manufacturing divisions, 8 service centers besides a number of project sites all over the country where its equipment is under erection. The company has a Corporate Research and Development Division at Hyderabad for carrying out basic and applied research. The company has been included in the list of PSEs identified as 'Navratnas', who have been given more autonomy.

The Company has taken several steps to enter into new business areas where its existing infrastructure, skills and capabilities could be most gainfully utilised. Some such new areas are Waste Heat Recovery Boilers, Gas turbines, AC Locos, Ceralin Insulators, Turret Castings, Desalination plants, etc.

The Company has formed two Joint Ventures one with M/s Siemens of Germany and the other with M/s General Electric, USA in the area of Servicing/renovation of Thermal Plants and servicing of Gas turbines respectively. In 1997-98, BHEL registered an all time high turnover of Rs.6471 cr. as against Rs.5755 cr. in the previous year - a growth of 12%. For the year 1997-98, BHEL's performance against MOU targets qualified it for placement in 'Excellent' category for the ninth consecutive year. During the current year (1998-99), 580 MW of Steam Turbines, 300 MW of Large Size Gas Turbines, 1800 MW of Turbo Generators, 204 MW of Hydro Turbines and 212 MW of Hydro Generators are planned for completion. In addition 8 Gas Turbines and 7 Gas Turbo Generators are also budgeted during the year. Other major items planned for completion are 111178 MT of Boilers and Valves, 13011 MVA of Transformers, 15 AC/DC Locos, 950 Nos. Motors, 2750 Nos. Traction Machines etc. BHEL made its maiden entry in the overseas Petroleum Sector for Power Plant by bagging an order for a Turnkey job for 3xFr.6 Gas Turbine sets in the Sultanate of Oman against stiff international competition, meeting stringent customer requirements. Against a commissioning target of 2543 MW of BHEL make sets in 1998-99, major supplies for all sets likely to be commissioned during the year have been completed. Asia's largest environment friendly circulating Fluidised Bed Combustion Boiler (390 T/hr) capable of utilising low grade fossil fuel is under execution at Surat Lignite (GIPCL). The Company is likely to end the year 1998-99 with a turnover of Rs.6850 cr.

Bharat Bhari Udyog Nigam Limited (BBUNL) was incorporated as a holding Company on September 17, 1986. It has the following subsidiary companies:

1. Burn Standard Company Limited Subsidiaries :
2. i) Bharat Brakes & Valves Limited (BBVL).

ii) RBL Ltd. (RBL)

3. Jessop & Company Limited.

4. Bharat Wagon & Engineering Company Limited.

5. Braithwaite & Company Limited.

6. Bharat Process & Mechanical Engineering Limited. Subsidiary :
7. Weighbird (India) Limited (WIL)

8. Lagan Jute Machinery Company Limited; and

9. Braithwaite, Burn & Jessop Construction Company Limited.

The primary aim of forming the holding Company was to bring about technical, financial and managerial effectiveness through inter-unit correlation and better coordination with external agencies. The aggregate production of all subsidiaries of the holding company is anticipated to be Rs. 734.87 cr. in 1998-99.

Burn Standard Company Limited (BSCL) was incorporated on December 1, 1976 consequent upon the nationalisation of the erstwhile Burn & Company Limited and the Indian Standard Wagon Company Limited. The company has two large engineering units at Howrah and Burnpur in West Bengal besides eight refractory and ceramic units located in Bihar, West Bengal, Tamilnadu and Madhya Pradesh. In 1984, as a part of the diversification programme, an offshore division was set up by the Company at Jellingham near Haldia in West Bengal for manufacturing offshore platforms. The company has since become sick and has been referred to BIFR.

The major products being manufactured by BSCL include wagons, structurals, springs, couplers, forgings, points and crossings, bogies, steel plant equipment, tram cars, ash handling plant, coal handling plant etc. The range of products of the refractory and ceramic units includes fire bricks, fire clay, basic and silica bricks for steel plants. The production of the company during the year 1998-99 is likely to be Rs 248 cr.

The company is sick and under reference to BIFR. Government has approved a revival plan of the company which envisages revival of three major units, two wagon building and one refractory unit. Government has agreed to provide cash infusion of Rs. 151.04 crore besides a conversion of Rs. 135.72 crore of loan into Equity/Debenture and write off Government interest of Rs. 329.64 crore. VRS is envisaged for employees of 7 unviable refractory units.

Bharat Brakes & Valves Limited (BBVL) came into operation w.e.f. 1.8.78 after nationalisation of erstwhile Company M/s.Grasham & Craven of India (P) Limited. The Company became a wholly owned subsidiary of M/s. Burn Standard Company Ltd., w.e.f. April, 1986.

The Company is mainly engaged in manufacture of equipment required by the Indian Railways for rolling stock and locomotives such as Vacuum Brakes, Exhausters, Slack Adjusters and Air brakes. BBVL also undertakes design and turnkey execution of fuel oil handling system including LS/HS, slurry handling etc. for power plants, steel plants, etc. The company was referred to BIFR. A revival scheme was prepared and BIFR has sanctioned the revival scheme with fresh infusion of funds from Government. This revival plan is under implementation. The production of the company during 1998-99 is likely to be Rs.13.00 cr. The Company has received an export order from Korea for Myanmar to export 300 Nos. VB Cylinders. The total order value is around US $ 60,700.

RBL Ltd. (formerly Reyrolle Burn Ltd.) was incorporated on 8th November, 1963 with equity participation by Burn & Company Limited (now Burn Standard Company Limited) and Reyrole & Company Limited (subsequently changed to Reyrole Parsons Limited), U.K. The Company became a subsidiary of Burn Standard Company Limited (BSCL) w.e.f. 25th July 1990, when BSCL acquired 33.1% of the shares held by overseas company over and above its own existing holding of 33.1%. The remaining 1/3rd shares are held by M/s. Dawn Enterprises, a private Company. The company is sick and has been referred to BIFR. A revival plan has since been sanctioned and the same is under implementation.

The company is engaged in manufacture of flame proof industrial switchgear upto 11 KV, vacuum circuit breakers, flame proof mining switchgear upto 6.6 KV and control panels. The anticipated production of the company during the year 1998-99 is Rs.4.6 cr. Government has already provided fresh funds fo Rs. 4.13 crore as a part of revival plan. For ensuring long term viability of the company, exercise to locate a strategic joint ventrure partner has been initiated.

Jessop & Company Limited (JESSOP) was established in 1788 at Calcutta and became a Government Company with effect from 1^st April, 1973.

The Company is engaged in design and manufacture of a diversified range of products viz. Railway Rolling Stock, Earth moving Equipment, a wide range of Cranes, various types of Structural Fabrication, Hydraulic Gates, Paper Machinery and Longwall Mining Equipment, etc. The company is sick and has been referred to BIFR who have since sanctioned a revival plan which is under implementation. Government has already provided Rs. 43 crore as fresh infusion of funds envisaged in the revival plan besides, conversion of loan into equity and write-off of past interest on Government loans. The production of the Company is anticipated to be Rs.80.47 cr. during 1998-99. Efforts are being made to enhance production of AC-EMU coaches so as to reach BIFR target.

Braithwaite & Company Limited (BRAITHWAITE) was incorporated as a Government company on 1st December, 1976. The company has three manufacturing units viz., (i) Clive Works, (ii) Victoria Works and (iii) Angus Works. Clive Works is engaged primarily in the manufacture of Railway Wagons, other Special & Export Wagons steel structurals, Steel & Aluminium fabrication etc. Victoria Works manufactures Wagons for carrying LPG in a newly set up facility. Angus Works engaged in manufacture of a wide variety of general and special purpose cranes including Container Handling Cranes, Rail-Mounted Diesel Loco Break down Cranes, Jute Carding Machines and Roll Feeders for Jute industry, grey iron castings and forgings, and recently diversified into manufacturing of Railway Wagons & bogies. The Company has also diversified into manufacture of Tank Wagons, container semi-trailer and steel plant equipment of limited range and execution of coal handling/preparation plants, structural fabrication and erection work on turnkey basis. The company is sick and was referred to BIFR. A revival scheme was prepared which was sanctioned by BIFR. The revival package is under implementation. The company earned a net profit of Rs.2.14 cr. during 1997-98 as against a net profit of Rs.0.69 cr. in 1996-97. The production of the company during the year 1998-99 is anticipated to be Rs.229.08 cr. with a net profit of Rs.2.09 cr.

Bharat Wagon & Engineering Company Limited (BWEL) was formed after the amalgamation of Britannia, Mokameh, Bihar and Arthur Butler, Muzaffarpur, Bihar in December, 1979. It has a unit at Bela for manufacture of LPG cylinders, Tank and Canopies for petrol pumps etc.. The main products of the Company are Railway wagons, screw pile bridges, steel fabrications, Grey Iron Castings etc. Consultant has been appointed to recommend diversification/restructuring to ensure long term viability of the company. The production of the company during 1998-99 is anticipated to be Rs.122.06 cr.

Bharat Process & Mechanical Engineers Limited (BPME) was incorporated in October, 1980 as a Government Company. The erstwhile Bird & Company was a pioneer in the field of Industrial Water Treatment Plants. After nationalisation, the technology in the area of water treatment plants was upgraded through a long term collaboration agreement with Belta Engineering of Holland.

The Company also diversified into Industrial Waste Water Treatment Plants and Oil & Gas Processing Equipment through foreign collaborations with Aqua Engineering of Austria and Larsen & D. Amico of Canada, respectively. Besides the Company also undertakes manufacture and supply of chemical equipment such as pressure vessels, heat exchangers, evaporators, crystallizers, Columns, condensers, EOT cranes, diaphragm valves and execution of rubber lining and fibre glass lining work, etc. The Company is sick and has been referred to BIFR. BIFR has since recommended winding up of the company. A Voluntary Separation Scheme has been introduced for all employees and 293 employees out of 469 have availed VRS benefit upto January 1999.

Weighbird (India) Limited, (WIL) was incorporated in the year 1962 as George Salter (India) Limited. WIL became a wholly owned subsidiary of Bharat Process and Mechanical Engineers Limited by virtue of nationalisation of the erstwhile Burn and Company Limited, on 25th October, 1980.

The product profile of the Company includes a wide variety of weighing equipment, Industrial springs, safe load indicators etc., catering to the requirements of infrastructure sectors like coal, steel, power, refineries, railways and other Government departments. The company is sick and has been referred to BIFR. BIFR has since recommended winding up of the Company. A Voluntary Separation Scheme has been introduced for all the employees.

LAGAN JUTE MACHINERY COMPANY LIMITED :

Lagan Jute Machinery Company Limited (LAGAN JUTE) became a public sector Company from 28th July, 1978 when the Government of India acquired its entire shareholding by outright purchase.

The Company became a subsidiary of Bharat Bhari Udyog Nigam Limited from 1st May, 1987. The Company manufactures Jute Machinery and spares and Polymer Plate Processors. Govt. have approved for formation of joint venture for the company and further action has been initiated in this direction. The Company has signed a MOU with Indian Jute Industries Research Association (IJIRA) on 1.7.98 for production of combination drawing machines in association with UNDP which is expected to have a good market. Similar sanction has been accorded by Department of Scientific and Industries Research (DSIR). The company is likely to end the year 1998-99 with a production of Rs. 6.34 cr. Government has taken 'in principle' decision to convert the company into a joint venture (JV) company with offer of equity upto 74% to the joint venture partner. The process of location JV partner has been initiated and the consultant appointed who have issued advertisement in the month of January 1999 for getting offers.

Braithwaite Burn & Jessop Construction Co. Ltd. (BBJ) was constituted by 3 major fabricators of Eastern India, namely Braithwaite and Co. Ltd., Burn Standard Co. Ltd. and Jessop & Co. Ltd. in 1935 for erection of the Howrah bridge. With the setting up of the holding company, Bharat Bhari Udyog Nigam Ltd.(BBUNL), BBJ became a subsidiary of holding company in August, 1987 and thus become a Government of India undertaking.

The Company is engaged in construction of bridges. They have completed fabrication and erection of super structure of the second Hooghly bridge at Calcutta which is Asia's second cable stayed bridge. The Company has also constructed a 2 Km long rail-cum-road bridge across the river Brahmaputra at Jogighopa in Assam. The Company has acquired the modern technology of construction of cable stayed long span road bridges. Consultant has been appointed t recommend diversification and for restructuring to ensure long term viability of the company. The turnover of the company in 1998-99 is anticipated to be Rs. 27 cr.

Bharat Yantra Nigam Limited (BYNL), a holding Company, was incorporated on 9th July, 1986 with its registered office at Allahabad with the following 6 companies as its subsidiaries.

1. Bharat Heavy Plate & Vessels Limited, Visakhapatsnam.

2. Bharat Pumps & Compressors Limited, Naini, Allahabad.

3. Bridge & Roof Company (India) Limited, Calcutta.

4. Richardson & Cruddas (1972) Limited, Mumbai.

5. Tungabhadra Steel Products Limited, Hospet, Karnataka.

6. Triveni Structurals Limited, Naini, Allahabad.

The main objective of setting up the holding Company was to integrate, monitor and coordinate the activities of the subsidiary companies with a view to secure optimum utilisation of resources and to provide package and turnkey services to various core sectors. The holding company is involved primarily in corporate policy formulation and ensuring effective functioning of subsidiary companies in the areas of investment, product rationalisation, capacity utilisation, human resource development, technology acquisition and absorption.

The total production of all subsidiary companies during 1998-99 is anticipated to be Rs.885.00 crs.

Bharat Heavy Plates & Vessels Limited, (BHPV) was set up in the year 1966 primarily to manufacture and supply custom built capital equipment required for process industries in the Core Sector such as Fertilizers, Oil Refineries, Petrochemicals, etc.

The Company has 3 product divisions viz. Process Plant Division, Cryogenics Division, and Boiler Division. The Process Plant Division caters primarily to the capital equipment needs of Fertilizer, Refineries and Petrochemical Sectors. This Division has also taken up fabrication of many sophisticated equipment's some of which were manufactured for the first time in the country. The Cryogenics Division has emerged as one of the major production divisions of the Company. All the above divisions are in a position to execute the jobs on a turnkey basis and the Company is gradually shifting its emphasis, from mere manufacturing and supply of equipment to system sales. The Company has entered into MOUs, on a case to basis, with world renowned companies for transfer of technology. The company is also on the look out for long term association with some of the world leaders in technology for high tech Products. Government have also taken a decision ‘in principle’ to convert BHPV into a joint venture company even majority equity participation by the joint venture (JV) partner. The process of selection of JV partner has been initiated and consultants appointed for the purpose.

The production of the Company for the year 1998-99 is anticipated t be Rs. 310 crore.

Bharat Pumps & Compressors Limited, (BPCL) was incorporated on 1st January, 1970 at Naini, Allahabad. The Company is engaged in manufactfure of fluid handling equipment for supplies to Oil, Natural gas, Fertilizer, Chemical and other industries. The manufacturing range of the Company consists of centrifugal and reciprocating process pumps, nuclear pumps, sucker rod pumping units, cementing units and various types of gas cylinders like high pressure industrial gas cylinders, Ammonia, Chlorine and Acetylene cylinders, LPG (D) Cylinders and shell forgings. The company is sick and has been referred to BIFR. The company's BIFR sanctioned revival plan is under implementation.

The company is facing acute shortage of orders from the petroleum & fertilizer sectors-its main clients. As a consequence, company's performance both in terms of production and profitability adversely affected during the current year.

The Company is likely to end the year 1998-99 with a production of Rs.60 cr.

Bridge & Roof Company (India) Limited (B&R) was incorporated in the year 1920 as a subsidiary of Balmer Lawrie & Co. Ltd. which became a Government company in 1972 under the administrative control of the Ministry of Petroleum. The Government of India directly invested additional equity capital of Rs.174 lakhs in December, 1978 and consequently this company ceased to be a subsidiary of Balmer Lawrie & Co. Ltd. The administrative control of this company was transferred to this Department in June, 1986.

The Company's operations cover :-

2. Civil engineering works in respect of buildings, concrete bridges, project civil works, cooling towers, chimneys and silos etc.

The turnover of the company during the year 1998-99 is anticipated to be Rs.320 cr. In order to strengthen the company by providing financial and technological inputs, Govt. have taken a decision 'in principle' to convert this company into a joint venture company even with majority equity participation by the JV partner. Consultants have been appointed for this purpose.

Richardson & Cruddas (1972) Limited (R&C) was incorporated on 15th March, 1973 by an act of Parliament to take over the old Engineering Company in the Private Sector, viz. Richardson & Cruddas Limited. It has four units - two in Mumbai & one each in Chennai and Nagpur. The Company became a subsidiary of BYNL with effect from 2nd April, 1987.

The product profile of the Company covers steel structures, transmission line powers, industrial machinery, chemical machinery, refrigeration equipment, tubewell hand pumps and public health engineering equipment. The Company also undertakes turnkey contracts for sugar projects, public health engineering projects and industrial machinery projects. R&C has recently entered into the field of repairing & reconditioning, dismantling, shifting and reassembling of oil rigs. The company is sick and has been referred to BIFR. BIFR has since sanctioned revival scheme of the company which is under implementation. The company achieved substantial improvement in order booking which touched Rs.78.70 cr. during 1997-98, an increase of 33% over the previous year's booking of Rs.57.80 cr. The company earned profit for the second successive year in 1997-98. The production during the year 1998-99 is likely to be Rs.90 cr.

Triveni Structurals Limited (TSL) was incorporated on 3^rd July,1965 as a joint venture of Government of India and Voest Alpine, Austria. The Company went into commercial production in the year 1968 and is primarily engaged in the manufacture of heavy steel structural products, such as tall towers & mast for power transmission, communication and T.V. broadcasting, industrial building, hydromechanical equipment, pressure vessels,etc. The Company became a subsidiary of BYNL in April, 1987.

The company is sick and has been referred to BIFR. BIFR has since sanctioned revival scheme of the company which is under implementation. Performance of the company has been well below the target included in the sanctioned plan and a reference has been made to BIFR for a detailed review of the revival package.

Tungabhadra Steel Products Limited (TSP) was established in April, 1960 as a joint enterprise of the Governments of Karnataka and Andhra Pradesh. In February, 1967 the Government of India became the major shareholder. The Company was made a subsidiary of BYNL in April, 1987. The Company is engaged indesign, manufacture and erection of hydraulic structures, penstocks, building structures, transmission line towers, EOT & gantry cranes, ferrous & non ferrous castings, etc.

With a view to develop non-conventional energy based products, the Company has developed products like solar water heater, solar lighting system, solar cooker, solar pumps etc. The production of the company is anticipated to be Rs.55.00 cr. during 1998-99. With a view to strengthen the company in the area of technological, marketing & financial inputs an 'in principle' decision has been taken to convert it into a joint venture company with majority equity participation by the joint venture (JV) partner for which consultants have been appointed.

Cycle Corporation of India Limited (CCIL) was incorporated in October, 1980, and the Nationalised Undertakings of Sen Raleigh group of companies got vested in this new Company in October, 1980. The Company has two factories - one located at Asansol, and the other at Kalyani, West Bengal. The licensed and installed capacity of the two Units is 5,80,000 and 3,16,000 bicycles per annum. The company is sick and has been referred to BIFR. BIFR has prima facie concluded to wind up the company. Further proceedings were stayed by Calcutta High Court. However, proceedings have been subsequently resumed on 9.1.97 after expiry of the stay. A voluntary separation scheme has been introduced for the employees of the company.

Hindustan Cables Limited (HCL) was set up in 1952 as the first telecommunication cable manufacturing unit in the country. The first unit was set up at Roopnarainpur, West Bengal which started production in 1954. The second factory was set up at Hyderabad in 1972 where production started in 1974. The third unit also was set up at Hyderabad which commenced production in 1985. The company has set up a factory with the latest technology for manufacture of fibre optic cables at Naini, Allahabad where production of cables started in 1990. The Company is engaged in manufacture of a wide range of sophisticated telecommunication cables and wires and is catering to the needs of vital sectors like Railways, Defence, communication etc. HCL has also expanded its scope of activities to offer turnkey services and telecommunication consultancy.

Consequent upon the decision of the Department of Telecommunication to phase out a number of products like paper insulated dry core cables, coaxial cables, etc., HCL has taken up several projects both for modernisation and replacement of existing plant and machinery as well as for conversion of dry core cable capacity into jelly filled cable facilities in its units at Roopnarainpur and Hyderabad. The production of the company during the year 1998-99 is anticipated to be Rs.423.48 crs.

The performance of the Company has been suffering since 1995-96 mainly due to inadequate capacity utilisation, acute shortage of working capital, higher finance and employment cost disproportionate to the volume of production. The company has identified certain measures for improvement of the performance of the Company. A revival plan of the company has been approved by the Government in January, 1999.

The package includes non-plan support of Rs. 75 crore in the form of equity capital, Rs. 68 crore for implementation of Voluntary Retirement Scheme and financial restructuring by way of conversion of Rs. 167.12 crore of outstanding loan into equity, and waiver of interest of Rs. 109 crore, etc. besides providing Government guarantee for drawal of loans from Banks/Fis.

Government has also agreed to the reservation of orders of annual requirement of DOT/MTNL in favour of HCL to the extent of 30% in first year and 25% in second year, alongwith advance of 50% of gross value.

HEAVY ENGINEERING CORPORATION LIMITED:

Heavy Engineering Corporation Limited (HEC), Ranchi was incorporated on 31st December,1958 with the primary objective of achieving self-sufficiency and self-reliance in the field of design and manufacture of equipment and machinery for the Iron and Steel Industry and other core sector industries like, Mining, Metallurgical and Engineering. It has three manufacturing units as under:

(i) Heavy Machine Building Plant (HMBP) manufactures a wide range of equipment for steel plants, material handling equipment like wagon tipplers and EOT cranes, Crushers, Excavators, OB Drills, Draglines and Mine Winders for the mining industry, etc.

(ii) Heavy Machine Tools Plant (HMTP). This plant manufactures a complete range of heavy machine tools including CNC machine tools and special purpose machine tools which are used by Railways & other customers.

(iii) Foundry Forge Plant (FFP) for manufacture of various types of castings, forgings and rolls. This unit also acts as a feeder unit for HMBP and HMTP.

Besides the above manufacturing units, HEC also undertakes constancy and turnkey projects in the areas of Low Temperature Carbonization Plants, Coal Handling Plants, Coal Washeries through its Constancy and Turnkey Projects Division. Projects for sintering plants, raw material handling systems in steel plants, maintenance workshops and coal briquetting plants are also undertaken by this Division. Prospects of collaboration with reputed companies in some specialised fields are being explored. The production during the year 1998-99 is anticipated to be Rs. 350.51 cr. The company is sick and has been referred to BIFR. A revival plan has since been sanctioned by BIFR which is under implementation.

HMT Limited, Bangalore was set up in 1953 for production of machine tools in the country. It has steadily grown in to a multi-product, multi-division undertaking manufacturing Machine tools, Watches, Tractors, Printing machinery, special purpose machines, Presses, lamps and Dairy machinery. It has 15 manufacturing units in 10 States.

HMT has two wholly owned subsidiaries viz. HMT (International) Limited, and HMT (Bearings) Limited and one partly owned subsidiary viz. Praga Tools Limited, Secunderabad.

HMT has established a Technical Directorate at Corporate office to provide thrust for technological upgradation. Long, medium and short term action plans have been evolved by the business groups to bridge the technology gaps for products and processes. Government has already given "in principle" approval for formation of Joint Ventures (JV) for HMT if it is in the interest of the company. Two JVs, one with M/s. Sudmo of Germany and another with M/s. Clearing Niagara, USA in the area of food processing machinery and metal forming respectively have been approved. JV for Tractors Unit is under consideration. Steps have also been initiated for locating JV partner for watch group. The production of HMT during the year 1998-99 is anticipated to be Rs.931.00 crs.

Praga Tools Limited (PTL), Secunderabad, originally incorporated as a Public Limited Company in May, 1943, for manufacture of High Speed Cutting Tools and precision Measuring Instruments, became a Central Public Sector Undertaking from 31^st March, 1959. The Company was initially under the administrative control of the Ministry of Commerce and Industry and was transferred to the Ministry of Defence, w.e.f. December,1963 to facilitate more effective utilisation of the available capacity for production of Defence items. The Company was brought under the Ministry of Industry w.e.f. April,1986 and PTL became a subsidiary of HMT Limited, w.e.f. February, 1988 when 51% of the paid up share capital of the Company was transferred in the name of HMT Limited.

Presently, the Company manufactures various standard machine tools viz. cutter and tool grinder, CNC cutter & tool grinder, surface grinder, milling machine, CNC milling machine, thread rolling machine, Jig boring machine and CNC Jig boring machine in various models besides machine tool accessories and Defence items. The company is sick and referred to BIFR. A revival plan of the company is under finalisation.

HMT (BEARINGS) LIMITED :

HMT (Bearings) Limited (erstwhile Indo-Nippon Precision Bearings) was established in the year 1964 as a state public sector Company. In the year 1981, this Company became a central public sector undertaking as a subsidiary of HMT Limited. The company is engaged in manufacture of ball and roller bearings. The Company has started exporting bearings in a small way by entering the markets in Middle East and Africa. Efforts are being made to increase the volumes and thereby increase export revenues. The production of the company during the year 1998-99 is anticipated to be Rs.41 cr.

HMT (I) was established in December,1974 as a trading Company for giving greater thrust to exports of the parent Company, HMT Limited. The major items for exports are machine tools, lamps, watches and other associated products which are exported to Africa, USSR, Europe, USA, Canada, Australia, Newzealand, West Asia, South East Asia and neighboring countries. The Company is trying for globalisation of its products, projects and services by entering into cooperation arrangements and marketing tie-ups with world leaders. New strategies are being adopted for penetrating markets of advanced countries like USA by setting up operational/marketing base or making tie-up arrangements with local companies/trading houses. The Company is also using financial agencies to offer total packages, for giving a boost to exports. The turnover of the company during the year 1998-99 is anticipated to be Rs. 60.45 cr.

Instrumentation Limited, Kota (ILK) was set up in 1964 with the objective of attaining self-reliance in the field of Process Control Instrumentation. The Company has three manufacturing units viz. Kota (Rajasthan), Jaipur (Rajastan) and Palghat (Kerala). It also has a subsidiary namely M/s. Rajasthan electronics and Instruments Ltd. (REIL) at Jaipur. The Kota unit commenced production in 1968 and the Palghat unit in 1975. The company has its headquarters at Kota with four Regional Offices. The product range at Kota was subsequently enlarged to enable the company to offer turnkey supply of instrumentation schemes to process plants in line with the latest technological developments.

The Company has diversified into micro processor based controlled and distributed digital control systems, advanced electronic transmitters, fault tolerant control systems, railway Signalling systems, uninterrupted power supply systems, defence electronics, telecommunication and special performance valves .The company is sick and under reference to BIFR. A revival package has since been sanctioned by BIFR in December, 1998 involving fresh infusion of Government funds to the extent of Rs. 66 crore with financial restructuring of Rs. 42.98 crore. Attempts are also being made for converting some of the divisions into joint venture company. The production of the company during the year 1998-99 is anticipated to be Rs.135.00 cr.

Rajasthan Electronics & Instruments Ltd. (REIL) was set up in June 1981 as a Joint Venture of Instrumentation Ltd., Kota and RIICO. They are pioneers in manufacture and supply of Electronic Milk Testers (EMT) to various milk plants/ dairies, milk chilling centres and village cooperative societies. The production during the year 1998-99 is anticipated to be Rs.22.50 cr.

Mining & Allied Machinery Corporation Limited (MAMC), Durgapur was set up in 1965 with Soviet Cooperation to meet the requirements of equipment, machinery and components for coal mining. It is the single biggest manufacturer of mining equipment's under one roof having capabilities to serve various mining industries including coal, copper, zinc, lignite, iron-ore etc. The Company has also diversified its production to cover systems design, manufacture, erection and commissioning of turnkey projects in the area of bulk material handling plants and coal washeries. The company is sick and has been referred to BIFR. BIFR has issued notice for winding up the company. However, High Court has issued stay against the proceedings of BIFR. A voluntary separation scheme has been introduced for employees.

National Bicycle Corporation of India Limited (NBCIL) was incorporated on the 27th October, 1980 after having taken over the nationalised undertakings of Hind Cycles Limited. NBCIL is engaged in the manufacture of bicycles and cycle components. The Company has two factories; one is located at Bombay and the other at Ghaziabad (UP). The Company has been incurring losses since its inception. The continuous decline in performance is attributed to severe financial constraints of working capital, low productivity of men and machines and competition in the market. The Company was referred to BIFR. BIFR has since recommended winding up of the company. However, High Court has issued stay. A voluntary separation scheme has been introduced for employees of the company.

NATIONAL INSTRUMENTS LIMITED:

National Instruments Limited (NIL), fully owned by the Government of India, was incorporated in June 1957 and took over the assets & liabilities of National Instruments Factory, a departmentally run workshop under the then Ministry of Production and Supplies. The Company is engaged in the manufacture and trading of various types of Opticals & Opto Electronic Surveying Instruments including Pressure & Vacuum Gauges, Cameras, Gas Meters, etc. together with sophisticated Night Vision devices. The production of the company during the year 1998-99 is likely to be Rs.3.03 cr. The company is sick and under reference to BIFR. A revival plan of the company is under consideration.

Scooters (India) Limited (SIL) was incorporated as a Government of India enterprise in Sept. 1972. Three wheelers are manufactured in its factory located in Lucknow. Under the brand name 'VIKRAM' which are used both as passenger as well as load carrier. A revival plan sanctioned by BIFR is under implementation. Its performance has shown remarkable improvement during the past three years. Efforts have been initiated for locating JV partner with a view to strengthen the company and sustain its long term viability. The company is likely to achieve a production of Rs.131.94 cr. in 1998-99.

Bharat Opthalmic Glass Limited (BOGL) was set up in April, 1972 and took over the Ophthalmic Glass Plant at Durgapur from the National Instruments and Ophthalmic Glass Limited. The Company is engaged in manufacture of ophthalmic blanks, flint buttons, optical glass, radiation shielding window (RSW) glass and other special quality optical glasses for the Defence, Nuclear and other sectors. BOGL is meeting partly the traditional demand of optical glass for Defence and is the only company of its kind in the country manufacturing ophthalmic & optical glasses. The production of the company during the year 1998-99 is anticipated to be Rs. 2.50 cr. The company is sick and is under reference to BIFR. BIFR had in February, 1996, recommended winding up of the company. On an Appeal, AAIFR has recommended the case back to BIFR. A voluntary separation scheme has been introduced in the company for providing VRS benefit to the employees

CEMENT CORPORATION OF INDIA LIMITED:

Cement Corporation of India Limited (CCI) was established in January, 1965 with the objective of setting up cement units in public sector to help achieve self-sufficiency in cement production in the country. The company has 10 operating units spread over 7 States/Union Territories, located in Mandhar, Akaltara and Nayagaon in MP; Kurkunta in Karnataka; Bokajan in Assam; Rajban in HP; Adilabad and Tandur in AP; Charkhi Dadri in Haryana and Delhi Grinding unit in Delhi. Government is exploring the feasibility of Sale/Joint Venture of its viable units. The performance of CCI has been adversely affected due to severe liquidity crunch coupled with sluggish market scenario in addition to infrastrutural constraints particularly related to power shortage problem and other inherent problems. The production of the company during the year 1998-99 is anticipated to be Rs.433.51 cr. The Company is currently under reference to BIFR.

Hindustan Paper Corporation Limited (HPC) was incorporated in May,1970 as a wholly owned Government of India enterprise with the main objective of manufacturing paper, paperboards, Craft paper and newsprint and their distribution on an equitable and rational basis in the country. HPC was to act as a catalyst for ensuring adequate levels of investments in the paper industry and also to keep the prices stable in times of scarcity.

HPC is a Holding Company and has 3 subsidiaries and two major integrated pulp and paper mills under its management and control. These are :

Subsidiaries

1. Hindustan Newsprint Limited (HNL).

2. Mandya National Paper Mills (MNPM).

3. Nagaland Pulp & Paper Company Ltd.(NPPC).

Units

1. Nagaon Paper Mills (NPM) 2. Cachar Paper Mills (CPM)

Mandya National Paper Mills Ltd. (MNPM) was incorporated as a public company in the private sector in 1957. After it became sick, HPC took over the management of this mil in January, 1974 as a result of the tripartite agreement between Government of Karnataka, HPC & MNPM. HPC holds 97.8% of equity share capital and entire preference shares. There has been no production in the company during most part of the year. The company is sick and is under reference to BIFR. BIFR ordered for its winding up. However, Govt./Deptt. appealed in AAIFR against the order of BIFR and decided to restart the operation. HPC is negotiating for take over of the company by private promoter.

Nagaland Pulp & Paper Company Ltd.(NPPC) is a subsidiary of Hindustan Paper Corporation (HPC). HPC holds 95% of the equity shares and the Government of Nagaland holds 5%. The Company which came out of the purview of BIFR due to financial restructuring again became sick as the revival scheme could not be put into operation due to law and order problem, lack of infrastructure and absence of banking facilities. The company has again made a reference to BIFR.

Hindustan Newsprint Ltd.(HNL) was originally started as a unit of HPC. Subsequently this unit was converted into a wholly owned subsidiary of HPC in August , 1983. This mill is located in the State of Kerala and is engaged in the production of newsprint. The annual capacity of the plant is 1 lakh MT. The production during the year 1998-99 is anticipated to be Rs.222 cr.

Hindustan Photo Films Manufacturing Company Ltd.(HPF) was established by the Government of India in the year 1960 with the objective of ensuring regular supply of raw cine films to the motion picture industry, X-ray films for health services and Defence Forces and special photographic materials for professional and amateur photographers in the country. HPF started production in 1967. The Company has two manufacturing plants, the main factory at Ootacamund and a plant at Ambattur near Madras. The Company undertakes both integrated production and jumbo conversion. The products manufactured by integrated production are cine films positive (black & white), cine films sound negative, medical X-ray films, photographic paper and amateur roll film (black and white). The items produced by jumbo conversion are cine colour positive films, industrial X-ray films, Polyester base medical X-ray, graphic art film and colour paper. The company has set up a project for manufacturing of 12 million sq. metres of Polyester based Medical X-ray, Industrial X-ray and Graphic arts films in technical collaboration with Dupont of USA. The company is sick and has been referred to BIFR. Efforts have been initiated for locating a Joint Venture partner for the company.

Hindustan Salts Limited (HSL) was set up in 1959, with the objective of taking over and managing salt resources previously managed departmentally by the Government of India. The Company is engaged in the production of common salt and salt-based chemicals. It has three units located at Kharaghoda (Gujarat), Mandi (HP) and Ram Nagar (UP).

Hindustan Salt Limited has been a pioneering organisation in the field of production of salt for industrial and edible use & iodisation of salt. It has played an effective role in the national Goitre control programme. The Company is taking intensive steps for setting up Diversification and Modernisation projects, which include setting up of Salt Refinery Project and replacement of Old Bromine Plant by Glass Tower. The production during the year 1998-99 is anticipated to be Rs. 5.30 crore. Efforts have also been initiated for location JV partner for the company.

Sambhar Salts Limited (SSL) is a subsidiary of Hindustan Salts Ltd., (HSL). The paid up capital of the company is Rs. 1 crore, 60% of which has been subscribed by HSL and balance 40% by the Government of Rajasthan. The company is producing salt both for edible and industrial use and salt based chemicals. The Company has developed market for mother liquor called bitterns left over after production of salt. Efforts have been initiated to locate JV partner with a view to strengthen the company for its long term viability. The production of the Company during the year 1998-99 is likely to be Rs.7.31 cr.

NEPA Ltd., (NEPA) formerly, The National Newsprint & Paper Mills Limited was initially floated in 1947 by a private entrepreneur with an authorised capital of Rs. 5 crores. Later on, in October, 1949, its management was taken over by MP Government (then Central Provinces & Berar). Central Govt. acquire the controlling interest in 1959 by conversion of loans into equity and became a central PSU. This company was the only newsprint mill in the country till 1980, when new units were set up in Kerala, Karnataka and Tamil Nadu.

The Company was referred to Disinvestment Commission and their recommendations for financial restructuring and strategic sale are under process. The production during the year 1998-99 is anticipated to be Rs.126.39 cr.

Rehabilitation Industries Corporation Limited (RIC), Calcutta was established in April 1959. The primary objective of the Undertaking was rehabilitation of displaced persons from erstwhile East Pakistan (now Bangladesh), Sri Lanka, etc. by giving financial assistance to industrial units mainly in private and cooperative sector and also by setting up industrial unit of its own. At present the company has 13 production units comprising of Project Division, Fruit Products Division, Engineering Division, Leather Division and Textile Division with activities ranging from general engineering, coal, handling projects, textiles including silk etc. Besides, the Corporation has 3 Industrial Estates.

The company was referred to Disinvestment Commission and their recommendations are now under process. The production of the company during the year 1998-99 is likely to be Rs 5.75 cr.

Tannery & Footwear Corporation of India Limited.(TAFCO), Kanpur was set up by the Government of India in 1969 with the objective of taking over the business of sick units, viz. Cooper Allen & North-West Tannery of the British India Corporation Limited to protect employment of persons engaged in this Unit and also in the small and ancillary industries supplying raw materials to these Units.

The Company was developing special purpose shoes for various industrial sectors, such as Oil, Steel, Coal, etc. On the recommendations of BIFR, Allahabad High Court has passed order for winding up of the company and appointment of official liquidated for the purpose. An Appeal against the winding up order has been admitted by the Division Bench of the High Court.

TYRE CORPORATION OF INDIA LIMITED:

Tyre Corporation of India Limited was incorporated on 14th February, 1984 in which the nationalised undertakings of two sick companies, namely, M/s. Incheck Tyres Limited and M/s. National Rubber Manufacturers Limited were vested on the 5^th March, 1984. It has three operating units viz. (1) Tyre Division at Kankinara, (2) Industrial Rubber Products Division at Tangra and (3) Reclaimed Rubber Unit at Kalyani (West Bengal). The production line covers Automobile Tyres & Tubes, Nylon Conveyor Belts, Hoses, Vee and Fan Belts etc. A Modernisation-cum-expansion project at Kankinara at a cost of Rs.125 crs. for the manufacture of 6.31 lakh tyres and tubes per annum in technical collaboration with Techno Export of Czechoslovakia was subsequently set up. The production during the year 1998-99 is likely to be Rs. 142.30 crore.

The company is sick and is under reference to BIFR. A draft revival scheme of the company is under finalisation. Meanwhile, a voluntary separation scheme has been introduced for the employees of unviable Tangra unit of the company.

Bharat Leather Corporation Ltd., (BLC) was set up in March, 1976 to act as an apex body for the promotion and development of leather and leather goods industry in the country and to provide necessary infrastructural facilities and assistance in marketing of leather and leather goods besides providing marketing assistance to the cottage and small scale units, thereby reducing their dependence on the large units/middlemen. The Corporation has, thus, to perform functions which are promotional and developmental besides undertaking commercial activities like procurement and marketing of leather goods, leather footwear etc.

The Corporation is involved in manufacturing of shoes in its Precision shoe lasts factory at Agra and industrial and safety shoes in Package Assistance Scheme (PAS) at Agra. Under the scheme, all the production facilities and inputs are provided by the Corporation to the artisans along with complete marketing support. In this scheme, the artisans who have got their co-operative groups, are provided with complete assistance in the plant. With a view to providing more facilities and latest technology to artisans in the manufacturing of footwear, one DIP Plant and one Unit Sole Plant have been installed in the PAS. The gross receipt during the year 1998-99 is anticipated to be Rs.8.00 crore. Efforts to locate JV partner/outright sale for strengthening of the company have been initiated and consultants appointed for the purpose.

Engineering Projects India Limited (EPI) is a premier turnkey contracting company incorporated in the year 1970.

A consortium of 7 Public Sector Undertakings, EPI has taken the lead in turnkey implementation of major industrial and infrastructural projects, overseas and at home. The field of operation is extensive and includes projects relating to civil and structural engineering, material handling, metallurgical, petrochemical, environment and pollution control.

Being a prime contracting company, EPI is upgrading its technology from time to time. In the construction of high-rise structures and chimneys, EPI is using slip-forming technology which has proved to be very advantageous from the point of view of time and cost. The technology of the collaborators in this regard has been absorbed to a great extent and this has enabled the company to successfully carry out the detailed engineering for various projects. During 1998-99 (April to Sept.98), EPI has secured projects valuing Rs.68.33 cr. The process of locating JV partner for the company has been initiated in accordance with the recommendations of the Disinvestment Commission. The turnover of the company during the year 1998-99 is anticipated to be Rs.146.88 cr.

The National Industrial Development Corporation Limited (NIDC) was established by the Government in 1954 to promote the country's industrial development. Its current field of operations cover:

- Development of computerised management information system,

- Industrial Projects: engineering industry, pulp & paper, textiles,

• Civil Engineering Project: industrial townships & urban development, housing

& treatment, etc.

- Restructuring, Technology Upgradation, plant modernisation &

capacity utilisation, etc.

The Company has identified the following areas for diversification:

- Software for Management Information Systems.

- Computer Aided Design Engineering and Software Expertise.

- Energy conservation in industry.

- Environmental pollution control.

- Revival of sick units.

The Company is facing acute shortage of orders and its turnover is likely to be affected in 1998-99. Aggressive marketing efforts are being directed to secure business as also diversify into new sectors offering potential. With a view to penetrating in new business areas, the Company has resorted to bidding jointly in association with Indian/foreign companies of repute.

Meanwhile, consequent upon Government's 'in principle' approval, efforts have been initiated for converting NIDC into a Joint Venture company.