BRPS'’s Rs 364-cr lifeline for Triveni Structurals

NEW DELHI: The Board for Reconstruction of Public Enterprises (BRPSE) has cleared a Rs 364-crore revival plan for the ailing Triveni Structurals (TSL).

The plan involves both fresh cash infusion for capital expenditure and waiver of loans taken by the company from the government. The loan waiver includes writing off Rs 139 crore of principal amount and Rs 128 crore in interest and penalty.

Infusion of fresh funds to the tune of Rs 72.19 crore is also part of the plan, sources said. The revival package needs to be approved by the Cabinet before it can be implemented. If all approvals come through, the company is expected to start making profits from the first year itself.

Out of the fresh funds expected, Rs 5 crore would be spent on reconditioning of the plant and Rs 15 crore
for working capital requirements.

Around Rs 32 crore would be set aside for settling dues of the Sate Bank of India (SBI) while Rs 20 crore would be spent on other pressing liabilities.