RAJ KUMAR
Ranchi, Feb.7: HEC, which recently faced labour unrest due to non-payment of salary for eight months, has now started chalking out a strategy to save it from any further crisis and make it live long.
An insider informed this saying the company needs Rs 3000 crore and for this, it is looking towards the land in its possession.
“The company top management is attempting to convince the ministry of heavy industries (MHI) for land monetization. If this materialises, getting Rs 3000 crore will be easy for the company,” the insider said.
Asked if the MHI does not get convinced for land monetisation, another insider said, the company wants to sell the idea of ‘Atmanirbhar Bharat’ and ‘Vocal for Local’, about which Prime Minister Narendra Modi often talks.
“The Company wants to make Niti Aayog realise that there cannot be another HEC where melting machine building work is done under one roof. It wants to effectively communicate that the company has the potential to make India self-dependent in the field of machine and tools and several machines and tools, which India brings from foreign countries can be produced in the country if HEC survives and works in its full capacity,” the insider said.
To communicate this, the company insider said, the company wants to show the work order it has even at the time of crisis.
“Potential of HEC can be assessed with the work order it is getting even at the time of crisis. Even today the company has a work order of Rs 1700 crore. People across the country know its potential. If the ordered materials are supplied, more orders are expected in days to come,” the insider said.
Asked why the company needed Rs 3000 crore, a finance department employee said: “Approximately Rs 1000 is required to pay the dues bill while Rs 300 per annum is required for salary payment, procurement of raw materials in a year. The remaining amount is required for modernisation of the company.”
As effort is on to save HEC rumours flying thick and high taking the future of the company.
“It is in the discussion that the process of disinvestment of HEC will start from March next year. Due to this neither any bank nor any financial institution is coming for the support of HEC. Unless the company does get Rs 200 crore immediately it will be difficult to run it as the company not only requires a salary fund but working capital also,” an insider said.
President of Hatia Mazdoor Union Bhuwan Singh said: “The company needs modernisation to face the competitive market and for that a year ago a requirement of Rs 1200 crore was felt. If that is provided to the company immediately, HEC will not only start running but also be able to face a competitive market to survive properly. But the stepmotherly treatment being given to it suggests that the Modi government wants to make its condition miserable enough to justify its selling to people like Ambani. Instead of pursuing discussion to hand over HEC to the defense or Atomic Energy department, the union government is behaving like a mute spectator. If HEC is allowed to sell its 200 acres the company can be rescued from the crisis.”
Another insider said: “A regular chairman cum managing director (CMD) for the company can be of great help as the present BHEL CMD Nalin Singhal, who has been given additional charge of the HEC, is not efficient enough to pave the path of its growth.”
