TT Epaper
The Telegraph
TT Photogallery
 
IN TODAY'S PAPER
WEEKLY FEATURES
CITIES AND REGIONS
ARCHIVES
Since 1st March, 1999
 
THE TELEGRAPH
 
 
CIMA Gallary

HEC cash splash

R. Mishra in Calcutta on Tuesday. Picture by Kishor Roy Chowdhury

Calcutta, Jan. 29: Heavy Engineering Corporation Ltd, the state-owned engineering equipment and machinery manufacturer, plans to invest Rs 750 crore by 2016 to modernise its plants.

“The major challenge for us is to upgrade. Without further investments, technological revamp is not possible. We are looking to invest Rs 750 crore over the next four years,” R. Misra, chairman and managing director of the Ranchi-based firm, said on the sidelines of a seminar of the Indian Foundry Congress here today.

Misra said the machine building, tools and forging plants were set up in the early 1960s with equipment imported from the erstwhile USSR and Czechoslovakia. However, following the breaking up of both the regions, the sourcing of these equipment have become difficult.

He said the technology for equipment upgrade was available globally and the firm planned to follow a transparent tendering process to find the technology provider.

 
 
" "