Ending hopes of a possible revival, the Udyogamandal unit of the public sector Hindustan Insecticides Ltd (now HIL India Pvt Ltd) has decided to shut down its operations as the Centre remains firm on its disinvestment.
The closure of the unit, which was established on April 24, 1958, turned a reality on October 10 after the company’s head office in New Delhi issued an order stating that the board (of directors) has approved the closure of operations of all the plants at Udyogamandal in Kerala and the Bathinda unit (in Punjab) of HIL (India) Ltd on or before October 10. The Department of Public Enterprises had decided to close down the company’s Udyogamandal and Bhathinda units following a recommendation by the NITI Aayog.
HIL was the first Central public sector unit (PSU) in Kerala. The company had stopped production nearly two years ago. The company’s unit at Udyogamandal was the most profitable unit till 2015. Its prospects took a hit after the government banned the manufacturing of endosulfan.
