Land, assets of five sick PSU units on the block

New Delhi, April 26

Land and other immovable assets of five sick public sector units, including HMT Watches and Hindustan Cables, have been put on sale as the government looks to shut the continuously loss-making units.

State-owned construction firm NBCC (India) Ltd is auctioning the assets, which will be sold only to central and state government organisations.

Land parcels and other immovable assets of five central public sector enterprises (CPSEs) —Hindustan Cables Ltd, Instrumentation Ltd, HMT Bearing Ltd, HMT Watches Ltd and Tungabhadra Steel Products are up for sale, according to information available on the NBCC’s website.

NBCC was appointed last September as Land Management Agency for the disposal of land assets of the sick CPSEs.

NBCC (India) Ltd informed BSE that it has "initiated the process" and has issued an advertisement 'Opportunity for government organisations for purchasing land/immovable assets' in this regard. PTI