SHIMLA - The Nahan <link _top>Foundry Limited would be merged with the Himachal Pradesh State Industrial Development Corporation and possibilities explored to utilize the properties and infrastructure available for other bonafide purposes.
This was stated by Prof. Prem Kumar Dhumal, Chief Minister in the 136th Meeting of the Board of Directors of the Nahan <link _top>Foundry Limited and the Annual General Meeting, held here under his Chairmanship.
Chief Minister said that best efforts had been made to revive the <link _top>Foundry and utilize the infrastructure for bonafide purposes. He said that Nahan <link _top>Foundry had been one of the oldest <link _top>foundry of the state and quality products were manufactured therein. He said that with the passage of the time the products became outdated and demand reduced in the market resulting into heavy losses to the <link _top>foundry with every succeeding year.
He said that the state government explored various options to revive the <link _top>foundry and finally decided to merge it with the HP Small Industrial Development Corporation so that the valuable property was utilized properly. He said that all the moveable, immovable and other assets would be transferred to the HPSIDC alongwith the debts, liabilities, duties and obligations of the <link _top>foundry. He directed the authorities to complete codal formalities for merger of the institution on priority so that HPSIDC could plan its future programme accordingly.
