The railway component and equipment suppliers here have appealed to the State government to consider these units under the “essential” category. In a memorandum to the State government, the Railway Su
Coimbatore: Members of Railway Suppliers Association (Rasa) on Tuesday urged Union minister for railways Piyush Goyal to take necessary steps to re-fi.
Coimbatore: The Railway Suppliers Association (Rasa) has written to railway minister Piyush Goyal, seeking to allocate funds to all the railway zones and manufacturing units to clear small suppliers’ bills immediately. They also sought to remove hurdles in bill processing and pass bills smoothly.
The suppliers said they were hit by the postponement of orders and steep rise in raw materials, and struggling to repay their loans because of the delay in payments. S Surulivel, president, Rasa, said, “Delay in payments will force many small suppliers to exist the scene. We expected the railway to make payments in April, but the same hasn’t materialized so far. Many zonal railways and manufacturing units say funds for April are yet to be allocated.”TNN
Copper end-users urge Tamil Nadu govt to work out solution to restart Tuticorin plant indiatimes.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from indiatimes.com Daily Mail and Mail on Sunday newspapers.
Coimbatore: The Railway Suppliers Association and Coimbatore Compressor Industries Association (COCIA) have written to chief minister Edappadi K Palaniswami requesting him to reconsider the decision to shut down Tuticorin Sterlite plant permanently. They said closure of the plant since May 2018 has led to refined copper production coming down by 50%, which in turn has led to prices of the metal to shoot up by 85% recently.
The associations said before the lockdown copper price was at Rs 380 per kg, however since then it has spiked to Rs 712 per kg, a hike of 85% within a year.
“This month alone, price has increased by 21% and banks estimate that the metal price will reach Rs 1000 per kg,” said COCIA president M Raveendran. “While closure of the Sterlite plant had lead to refined copper production to fall by more than 50%, import of the same increased by 120% in 2018-’19, and further increased by 70% in 2019-’20,” he said.