April 01, 2002

    Shri Manohar Joshi, Minister for Heavy Industries has said disinvestment has resulted in induction of new technology which is necessary for the survival of PSUs in the current competitive environment in cases like BALCO, Modern Food, Andrew Yule etc. No employee has been retrenched. The salaries have been protected, he added. The Minister was in Salem recently to inaugurate the Co-clinker Project at Burn Standard Company Ltd.. He assured the employees that their interests will be fully protected to the Share Holders Agreement, the provisions of which will be discussed with the representatives of the employees at appropriate levels. He also assured them that there was no reason to fear closure of the Salem Plant.

    The co-clinker project has been implemented at a cost of Rs.5.65 crore. A new co-clinker plant including a Rotary Kiln would cost around Rs.20 crore. The product is an import substitution item. With production of this new refractory material, the company will be able to meet requirements of cement and glass industries as well.

    The company is also in the process of installing a high capacity (2500 tons) press with vacuum pressing arrangements. This type of press is being installed in refractors manufacturing for the first time in India. With this, very high quality bricks for steel plants with size upto one meter will be manufactured in the plant. The total cost of this press project is around Rs.14 crore.