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CCEA okays revival package for Bengal Chemicals
Our Bureau
New Delhi, Dec. 21
The Cabinet Committee on Economic Affairs (CCEA) on Thursday approved a revival package for Bengal Chemicals and Pharmaceuticals Ltd (BCPL) at a total cost of Rs 207,19 crore.
The package consists of equity of Rs 55 crore, interest-free loan of Rs 90 crore, voluntary retirement scheme payment of Rs 20 crore, wage arrears of Rs 24.70 crore and some other items, the Union Finance Minister, Mr P. Chidambaram, said here today.
He also highlighted that BCPL has been a sick company since January 1993. "BIFR's last modified scheme was made in January 2004. Since then the matter has been examined by the BRPSE and a consultant. Based on their reports, the revival package has been approved," Mr Chidambaram said.
Meanwhile, the CCEA also approved the revised estimate for construction of permanent houses for the tsunami-affected people in Andaman & Nicobar Islands. While the original estimate was Rs 738 crore, it has now increased to Rs 1,221 crore. The reason for the revision includes increase in the number of housing units from 8,500 to 8,955 units and cost estimates has been updated from April 2004 to October 2006.
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