With the takeover of Bharat Heavy Plates and Vessels Ltd (BHPV) by Bharat Heavy Electricals Ltd (Bhel), the Andhra Pradesh government has committed to strengthening and revive sick industries in the interests of its employees. The government is poised for large scale industries development for creating employment potential in the state and has contemplated an action plan to enhance the potentiality in creating additional employment to the youth.
On the eve of his visit to Visakhapatnam to participate in the programme of taking over of BHPV by Bhel, YS Rajasekhara Reddy, Chief Minister of Andhra Pradesh said that for protecting the interest of around 1,512 employees working in BHPV, the state government has extended several relief measures like transfer of the title of land measuring 386.73 acres in possession of BHPV as gift deed in its favour.
The other sops include waiver of registration and stamp duties, waiver of sales tax arrears of Rs 42.16 crore, waiver of nala tax of Rs 43 lakh and waiver of dues towards water tax, property tax and vacant land tax of Rs 3.96 crore.
After the takeover of BHPV by Bhel, around 1,332 of the 1,512 total employees of BHPV would be continued in employment. He said that the sick industries and several companies like Allwyn, Republic Forge, IDPL, etc were forced to declare lockout due to step-motherly attitude by the previous government, he pointed out.
However, he said that his government has revived and expanded eight cooperative sugar factories besides reviving major units like Panyam Cements, Mineral Industries, Bharat Alloys & Energy Ltd, Sai Rayalseema Paper Mills Ltd.
Visakhapatnam-based BHPV, a public sector undertaking coming under Department of Heavy Industry, is engaged in manufacture of capital equipment for core sector industries and caters to the requirements of atomic energy, defence and space sectors. During the 2002-2005, it incurred huge losses and was referred to the Board for Industrial and Financial Reconstruction (BIFR).
