THIRUVANANTHAPURAM: The state-run public sector unit Travancore Cochin Chemicals (TCC) handed over Rs 84.55 lakh as dividend to the state government. Chief minister Pinarayi Vjayan received the cheque from the company officials at a function in the presence of Industries Minister E P Jayarajan on Thursday. The company announced a profit dividend for the first time in the past 23 years.
The public sector TCC has netted a record Rs 32-crore profit in the 2017-18 fiscal, registering a total turnover of Rs 241 crore for the last fiscal. This assumes significance considering the fact the company sustained a cumulative loss of nearly Rs 25 crore two years ago. The company which produces caustic soda, chlorine and hydrochloric acid, is getting ready to carry out a slew of developmental works in the plant to the tune of Rs 60 crore.
The installed production capacity of the company would be increased from 175 tonnes per day to 250 tonnes. Similarly, the potency of the caustic soda would be increased from 32 per cent to 48 per cent. Further, pressurised moisture would be produced along with the installed production of 60 tonnes of hydrochloric acid per day. The Industries Minister will lay the stone for the new projects on January 17.