Kerala government today decided to take over the sick PSU Instrumentation Limited, Palakkad (ILP), which the Centre planned to shut down after it started incurring losses since 1993.
The decision to take over ILP, set up in 1974 as the second unit of Instrumentation Limited at Kota in Rajasthan, was taken at a cabinet meeting chaired by Chief Minister Pinarayi Vijayan here today, an official release said.
A MoU in this regard would be signed with the Centre and all of ILP's assets, valued at Rs 53 crore, would be transferred to a new company called Instrumentation Limited, Kerala, the release said.
Among other decisions taken at the meet were to set up seven modern solid waste management plants with public-private participation.
One plant each would be set up in Thiruvananthapuram, Thrissur, Palakkad, Kozhikode, Kannur, Malappuram and Kollam districts,the release said,adding that Kerala state Industrial Development Corporation has identified sites for the purpose.
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