Jharkhand governor Ramesh Bais on Monday assured full support to save the ailing Heavy Engineering Corporation (HEC), a 63-old public sector undertaking that is currently battling severe financial crisis.

The governor said he would make all possible efforts to help the PSU, once considered as the mother of heavy engineering industries in India, return to its heydays. Bais, who toured the HEC plant on Monday afternoon after inaugurating a modernised LPG-fired reheating furnace in the premises, was speaking to the medai after that.

The PSU's top brass, namely acting CMD Nalin Singhal, directors and other senior oficials, were present on the occasion.

“HEC is currently going through several hardships and is even facing issues to pay employees. I am going to take up the PSU’s issues with the Union government and do all that is possible to save the company,” he said, adding that HEC was known for having played a key role in nation building and paved the way for the likes of Bokaro Steel Plant, Durgapur Steel Plant, Bhilai Steel Plant to come up.

“It also manufactured launch pads for ISRO. But due to lack of a full-time CMD, issues of management and other shortcomings over the years, HEC’s is in crisis today,” he said.

“At this stage, I appeal to employees to ensure that they extend full cooperation in the revival of the PSU. I will soon visit Delhi to meet the Union heavy industries minister” he added.

The governor was also given detailed presentations by company officials. “I have learnt that the company currently has work orders worth Rs 1,700 crore but has issues of liquidity to fulfill them on time. The company wants to lease/sell about 300 acre land out of the available chunk of 1,000 acre to raise money for its operations,” he said.

Governor Bais's visit has kindled hope among the HEC management and trade unions. “The governor’s assurance has certainly enthused all of us here in the company,” remarked a senior official.