PSUs now competitive and profitable: Minister

Kerala’s Public Sector Undertakings (PSUs) person not lone turned profitable implicit the past decennary but person besides go importantly much competitive, Industries Minister P. Rajeeve has said present connected Tuesday.

Speaking astatine the inauguration of assorted projects astatine Kerala Minerals and Metals Limited (KMML), the Minister added that the bulk of State PSUs are presently operating successful the green.

‘A ₹731 crore modernization task volition beryllium launched astatine Kerala Paper Mills successful Kottayam and the enlargement of the Rubber Park volition assistance to accommodate much backstage enterprises. The long-standing arrears and bonuses for PSU workers person been distributed successful a timely manner. At KMML specifically, 2 large agreements were implemented implicit the past 5 years to code worker needs. Furthermore, assorted projects worthy ₹20 crore were executed astatine the Kovilthottam Mineral Separation Unit to summation moving days,” said and the Minister who besides confirmed that 613 workers volition beryllium granted casual status.

He reminded employees that portion wage hikes are being implemented, determination is simply a corporate work to proceed expanding the company’s wide revenue. “The strategical imaginativeness for KMML involves positioning it arsenic a cornerstone of the concern corridor connecting the Vizhinjam and Kochi ports. The authorities has allocated ₹100 crore for corridor development, predicting that Kerala volition look arsenic a planetary hub for uncommon mineral accumulation wrong the adjacent 15 years,” helium said. During the event, the Minister accepted a ₹4.64 crore dividend from KMML for the 2024-25 fiscal twelvemonth connected behalf of the State authorities and inaugurated caller buildings for the KMML Employees Cooperative Society and the Titanium Employees Recreation Club.

Sujith Vijayanpillai, MLA, handed implicit the keys to a caller ambulance, purchased for ₹7.9 lakh from the company’s Social Security Fund, to enactment palliative attraction astatine the Chavara Community Health Centre.

Additionally, a Memorandum of Understanding (MoU) was signed betwixt KMML and the Rajiv Gandhi Centre for Biotechnology to found a aesculapian investigating lab. The lawsuit was attended by KMML Managing Director P. Pradeep Kumar, Board for Public Sector Transformation (BPT) chairperson K. Ajith Kumar, and assorted national representatives and officials.