Orind staff face uncertain future

ROURKELA: With no indication in sight of any early restoration of production in the defunct refractory plant Orind, now Shaswat International Ltd, as many as 761 workers are staring at an uncertain future.Sources said the Orind plant cannot run under the existing management led by the absconding chairman Ravin Jhunjhunwala who ran the unit as a ‘family business’ and duped all before abruptly closing production 15 months back. So far, the administration could ascertain Orind’s liabilities to the tune of over ` 100 crore. Ravin allegedly had collected huge funds which included  ` 65 crore taken from three business houses recently. He twice benefited from the Board of Financial and Industrial Reconstruction.    On November 16, three banks took ‘symbolic possession’ of the plant for auction with minimum bidding price of ` 70 crore, but none turned up as the Orind affairs are tangled in litigations. As a ray of hope, the Bhusan Steel has evinced interest to acquire the plant. But, the State Government has to clear hurdles on the land issue. Orind has got possession of 170 acres of which lease deed was made for 125 acres in 1953 in its favour. Without specifying any time limit,  Sundargarh Collector Rupa Roshan Sahu said the State Government is working to revive the plant. If sources are to be believed, the Orind plant immediately requires ` 150 crore for revival.