Govt approves rehabilitation package for BRL

NEW DELHI: The government on Thursday approved a comprehensive rehabilitation package for loss-making Bharat Refractories, Bokaro, including assistance for implementing VRS, payment of outstanding statutory dues, guarantee for working capital loans and investments for annual maintenance epair.
This was decided by the Minister for Steel Braja Kishore Tripathy while reviewing the 2001-02 performance of the state-owned company.
The details of the package would be communicated to BRL very soon, an official release said here.
Tripathy said the package was aimed at helping the company improve its productivity, cut costs and achieve higher capacity utilisation through increased working capital and investments in AMR.
This, he said, would enable BRL to overcome its problems and become a low cost producer of quality refractory products and reestablish itself as a market leader.
During 2001-02, the company produced 29,425 tonnes valued at Rs 46.41 crore and despatched 31,390 tonnes valued at Rs 49.80 crore.
Its net loss was reduced by Rs 12 crore due to reduced manpower and other cost control measures.