Tuesday, 28 March 2017

Revival of HEC Ltd.

Heavy Engineering Corporation Ltd., (HEC) Ranchi (Jharkhand) was set up in 1958. Over the years, the performance of the Company declined due to variety of reasons namely, old and outdated plants and machineries, excess manpower, underutilization of capacity, working capital constraints etc.. In order to revitalize the company, a Revival cum Modernization Plan was got prepared by HEC through M/s MECON, envisaging a comprehensive overhaul of HEC’s plants and facilities and submitted to Ministry. In the meantime, consultations were held at the level of NITI Aayog, Ministry of Finance, Department of Heavy Industry and Government of Jharkhand and a Committee of Experts headed by Dr V.K. Saraswat, Member, NITI Aayog was set up in July, 2016 for technical appraisal of the Modernization Plan of HEC and other related issues. The Committee of Experts has since submitted their report on various issues of the Company including its modernization, recommending upgradation of its manufacturing facilities and strengthening of human resources.
HEC, Ranchi has reported at present that they are manufacturing and supplying some items for strategic sectors including Defence. However, Company intends to expand its product profile with induction of new items for these sectors.
This information was given by Minister of State in the Ministry of Heavy Industries and Public Enterprises Shri Babul Supriyo in reply to a written question in the Lok Sabha today.

Courtesy: pib.nic.in

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