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PDIL R&D & E&C division to be closed down

New Delhi, December 21, 2004

Government has taken a decision to close down R&D Division and the Sindri Unit of the E&C Division of the Projects and Development India Ltd. due to their non-viability. The total cost of closure of both these Divisions was Rs.181.28 crore as on 31.3.2004.

Board for Industrial and Financial Reconstruction (BIFR) while sanctioning rehabilitation packages of PDIL on 1.7.1997 and 28.3.2004 had observed that the R&D Division of PDIL was unviable on stand-alone basis and had proposed closure of the E&C Division at Sindri due to its uneconomic operations. Even the Council of Scientific & Industrial Research (CSIR) and Fertilizer Association of India (FAI) have expressed their inability to take over the R&D Division.

This information was given by the Minister for Chemicals & Fertilizers and Steel, Shri Ram Vilas Paswan in a written reply to a question in the Lok Sabha today.

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