The government today cleared the proposal for reviving three public sector units, including Cement Corporation of India.
For reviving the CCI the government will waive Rs 886.22 crore (Rs 8.86 billion) of interest payment and provide an assistance of nearly Rs 183 crore (Rs 1.83 billion).
Under the package, CCI will have to close down seven of its non-operating units and modernise its Bokajan, Tandur and Rajban units at a cost of Rs 141 crore (Rs 1.41 billion).
The Cabinet Committee of Economic Affairs also approved a rehabilitation package of Rs 137 crore (Rs 1.37 billion) for Hindustan Antibiotics Ltd in Pimpri, Pune, and a package of Rs 75 crore (Rs 750 million) for Hindustan Organics Chemicals Ltd.
The Cabinet gave a go-ahead to the introduction of National Jute Board Bill 2006 in Parliament for restructuring operations of organisations functioning in the jute sector.
An approval was also given to introduce the National Institutes of Technology Bill 2006 in Parliament to bring all 19 institutes within the ambit of the Act. This will enable the institutes to become centres of excellence.
It approved the proposal for design and development of a Resourcesat-2 - Indian Remote Sensing Satellite Project - at an estimated cost of Rs 138.89 crore (Rs 1.39 billion) and a foreign exchange component of Rs 88.5 crore (Rs 885 million).
The project will provide continuity to remote sensing data services to the user community.
The CCEA also cleared the proposal of upgrading the Indian Institute of Science in Bangalore at a cost of Rs 100 crore (Rs 1 billion) by 2006-07 and continuation of the centrally-sponsored scheme assistance to State Scheduled Castes Development Corporations during the Tenth Five Year Plan at a cost of Rs 188.26 crore (Rs 1.88 billion).
The CCEA gave a go-ahead for additional inputs to the catalytic development programme with a corresponding enhancement of the Tenth Plan by Rs 76.99 crore (Rs 769 million) and modifying certain parametres of the total sanitation project.Do you want to discuss stock tips? Do you know a hot one? Join the Stock Market Discussion Group
