Mail News Service
Jamshedpur, July 24: Exorbitant power costs being levied by Jharkhand Bijli Vitran Nigam Ltd (JBVNL) have forced prominent industries in Kolhan Division�s Saraikela-Kharsawan district, to announce closure on and from August 1. Notices to the effect have been put up at the gates of the industrial units concerned. The units that have decided to close shop include Stan Commodities Private Limited, Siddhi Vinayak, Balaji and Vananchal Steel Alloy. As a result thousands of employees and workers will be laid off thus leading to a sorry economic situation.
Stan Commodities Private Ltd in the Gamharia Industrial Area in Saraikela-Kharsawan district employs 1,000 staff and labourers. The company�s management has asked all of them to collect their balance payments before the unit closes, as per notification on and from August 1. The notification mentions that the exorbitant cost of power supply takes away the viability factor from running the business.
The company�s Managing Director Sharad Poddar informed, �JBVNL has raised the cost of power by 38 percent. Power is essential to run the company. It is simply not feasible to run this factory by paying such a staggering amount for power supply. The state government had assured us of relief on this count in April last. Based on that assurance, we continued for four more months even while running at a loss. But now, running this business with soaring electricity bills eating into the company�s profit, is no longer possible. That is why we are closing down operations from August 1.�
Stan Commodities Private Ltd commenced production in the year 2000 and since then had been running smoothly. The closure of this unit will have serious repercussions in the local market.
Similarly Siddhi Vinayak Co at Rugri in Chowka area, Balaji Co in Humid village and Vananchal Steel Alloy Co in Katia on Kandra-Chandil Road have also notified their closures from August 1. As a result of these companies closing down thousands of employees, workers and their families would be adversely affected.
Some of the officials related to these companies have informed that more such units in Adityapur and Gamharia will announce closure. They blamed the current bleak state on JBVNL.
