Kerala prepared to takeover loss making Hindustan Newsprint Ltd
A letter in this regard was sent to Union Heavy Industries minister Anant Geete by State Industries minister A C Moideen.
The move comes in the wake of the Centre's plans to place the company for auction and a transaction advisor being appointed for the purpose, the minister said in the letter.
He said the state was keen to discuss the issue with the Centre before any further steps were taken on the matter.
Kerala Chief Minister Pinarayi Vijayan had written to the Centre on the matter several times and the state assembly had also unanimously passed a resolution to take over HNL.However there had so far been no favourable response from the Centre, he said.
In order to help HNL, Kerala has supplied raw material at cheaper rates, absorbing the losses, the minister said.
(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)