Six PSUs looking for JV partners

New Delhi, Nov 21 | Updated: Nov 22 2005, 06:35am hrs
As many as six public sector companies under the department of heavy industry are looking for a joint venture partner to improve their fortunes, heavy industry minister Santosh Mohan Dev said. Around six companies under the department are scouting for a joint venture partner, he told newspersons.

Mr Dev, who took the additional charge of water resources ministry, said that the chief executives of these companies were working out details. He said the proposal that these companies enter in to a joint venture has been vetted by the board for reconstruction of public enterprises (BRPSE).

In case of Tyre Corporation and Tungabhadra Steel the BRPSE has given clear directions for a joint venture while it is examining other four cases, the minister said without disclosing their names.

The BRPSE has directed management of these four companies to go in for a joint venture partners preferably from the public sector.

-PTI