KOCHI: Traco Cables, a state public sector entity manufacturing high quality electric cables and wires for the Railways, PSUs and electricity boards of various states, is gearing up for the winds of change as Industries Minister A C Moideen will inaugurate the new machineries at its Irumpanam plant on Friday.
The 55-year-old PSU is undertaking a modernisation drive for the first time since its inception thanks to the `24 crore fund allotted by the government. "The new machineries will help enhance production and we are hopeful of improving our market presence.
The company achieved a turnover of `125 crore in 2017-18 and we are confident of achieving the target of `150 crore in 2018-19," said chairman K Radhakrishnan. Industries Minister A C Moideen will inaugurate the new machineries and plant capacity enhancement initiative at 3.30 pm on Friday.