Defence PSUs HSL and BEML were incurring losses in the past
Minister of state for defence Subhash Bhamre informed the Lok Sabha that the defence PSU Hindustan Shipyard Limited (HSL) was incurring losses for many years due to lack of orders. However, HSL started posting profits in the last two fiscal.
HSL has been developing infrastructure facility for covered building dock, three slipways, repair graving dock, large wet basin and high pressure hydraulic flushing facilities for submarines.
The defence ministry has issued letter of offer for construction of special operation vehicles and fleet support ships to HSL.
Bhamre also said that Bharat Earth Movers Limited (BEML), which is a profitable enterprise for the past few years, had also gone through a tough time when it incurred losses in 2012-13.
The minister said the defence PSUs have established all facilities for design, development, manufacture and repair of equipment for the armed forces.
Nine defence PSUs are having 47 units and ordnance factories have 41 units across the country, he said.
The other defence PSUs include Ordinance Factory Board, Bharat Electronics Ltd, BEML, Bharat Dynamics Limited, Mishra Dhatu Nigam Limited, Mazagaon Dockyards Limited, Garden Reach Ship Builders & Engineers Limited and Goa Shipyard Limited.
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