Braithwaite and Co to spin off railway wagons unit
14 Jul 2009
The ministry of heavy industries and public enterprises is examining the transfer of wagon manufacturing units of Braithwaite and Company Ltd to the ministry of railways in consultation and with that ministry, minister of state for heavy industries and public enterprises informed the Rajya Sabha today.
He said some employees of Braithwaite and Company had made a representation to ministry of railway requesting takeover of Braithwaite & Co Ltd by the ministry of railways.
The ministry of heavy industries, he said, has requested the ministry of railways to consider taking over of the units of Braithwaite and Co Ltd.
The Kolkata-based Braithwaite & Company Limited (BCL), which is engaged in the manufacture of railway wagons, bogies and couplers, has diversified into fabrication of bridge girders and structural works and is poised to enter into crane business and civil construction.
The minister said Heavy Engineering Corporation (HEC) has started earning operational profit since 2006-07. There is no specific categorisation for heavy industries, he added.
He said 539 industrial entrepreneur memoranda have been filed and three direct industry licences (DILs) have been issued for Jharkhand between January 2004 and May 2009.
As many as 160 central public sector enterprises (CPSEs) remained profitable during 2007-08, as per the Public Enterprises Survey, 2007-08, the minister informed the House.
During the last three years, ie, 2005-06, 2006-07 and 2007-08, the CPSEs contributed Rs18,443.79 crore, Rs22,834.76 crore and Rs23,857.88 crore, respectively, as dividend and dividend tax to central exchequer, the survey said.
