State Government would be exploring the possibilities to obtain maximum benefit out of the Nahan Foundry properties by inviting expressions of interest from private players. This was revealed by Prem Kumar Dhumal, Chief Minister, in the 237th Meeting, of the Board of Directors, of Nahan Foundry Limited held here under his Chairmanship today.
Chief Minister said that the State Government had put in best of its efforts to revive Nahan Foundry keeping in view its historical importance but the prevailing marketing trends were not suiting to the proposals coming forward.
He said that finally it had been decided to merge Nahan Foundry with HP State Industrial Development Corporation as also transfer all assets and liabilities to the later.
He said that the prominent Foundry location had attracted many entrepreneurs with their proposals but after closely examining them the State Government was looking for better options which could not only generate economic activities in the area and also generate employment and self employment to the unemployed youth in the area.
He said that the state government would be preferring some non-polluting renowned multinational IT or BT industry to take over the entire properties so that the same was put to optimum utilization.
He also emphasized the need to invite expression of interests for the properties located in different states, including national capital area, so that best returns were secured by disposing off such properties to the state government.
Dhumal said that the real estate belonging to Nahan Foundry would also get automatically transferred to the HPSIDC while the plots located in different locations of the State could also be taken over by HPSIDC for further optimum utilization of the same.
He directed the authorities to take effective steps to settle all the pending issues relating to Nahan Foundry on priority and settle them all well before the final merger.
Shri Manoj Kumar, Director of Industries, welcomed the Chief Minister, and apprised him of the latest position of the Foundry matters.
Shri Subhash Negi, Principal Secretary Industries, Dr Arvind Mehta, Principal Secretary Finance, Ms. Nandita Gupta, Special Secretary Finance were present beside other senior officers.