Govt to shed 74% in HMT Bearings


“Disinvestment up to 74 per cent equity in HBL is under consideration of the government,” Minister of State for Heavy Industries and Public Enterprises Arun Yadav said. HBL, set up in 1964, is 97 per cent held by HMT Ltd and makes ball and roller bearings. On whether the government has any proposal to reduce its equity in other companies, Yadav said, “the government has invited expression of interest (EoI) for joint venture partner in Tungabhadra Steel Products Ltd, Triveni Structural Ltd, Nepa Ltd and Hindustan Cables Ltd, which may have an impact on government’s equity in these PSEs.”

He said the government has provided funds worth Rs 5,521.73 crore for 12 units including HBL, Andrew Yule and Co, Bridge and Roof Co Ltd, Heavy Engineering Corp Ltd and Braithwaite and Co Ltd.

Liked the story?

  • 0

    Happy
  • 0

    Amused
  • 0

    Sad
  • 0

    Frustrated
  • 0

    Angry