|
Keltron units await Defence Ministry nod |
 |
Keltron, India’s first state-owned electronics company set up in 1973 in Kerala, is awaiting the defence ministry’s nod to convert two of its units into defence production ones. Keltron Managing Director V. Ramkumar said several rounds of talks had been held and a positive signal from the defence ministry came a month ago when they began inquiring about the financial position of the two units.
Chief Minister Oommen Chandy has impressed upon Prime Minister Manmohan Singh and Defence Minister Pranab Mukherjee the urgent need for takeover of the two units.
The units supply eco-sounders, underwater telephones and electromagnetic log and are the only manufacturers of process-based ground mines (PBGM) in the country.
The two units - the Karakulam unit in Thiruvananthapuram and the Aroor unit in Alappuzha - have supplied materials to the Indian Navy.
With no budgetary support from the Kerala government, Keltron is expecting to close the current fiscal with a total turnover of Rs.1 billion ($22 million), up from Rs.850 million in the previous fiscal.
|
