HCL PLANS TO BRING DOWN LOSSES

---

Hindustan Copper Ltd. (HCL) has a target to produce 400,000 tonnes of copper cathode during the year 2003-04. It has plan to achieve a turnover of Rs. 550 crore during the year. It plans to minimise its losses by optimising domestic copper concentrate production, improved operational and functional efficiencies, improved sales realisation, rationalisation of manpower and upgradation of the quality of products. It has also plan to dispose of non performing assets during the year.

A memorandum of understanding (MOU) between the HCL and the Government of India for the year 2003-04 was signed here today. MOU was signed by the Mines Secretary Shri C.D.Arha and the Chairman-cum-Managing Director of HCL Shri B.K.Menon.