BEL’s investment plans spark hopes of revival at TN Industrial Explosives

Tamil Nadu Industrial Explosives Ltd (TEL), which was the only licensed State-owned explosive manufacturing unit in the country before mounting losses forced it to shut shop in September 2017, appears to have got a lifeline.

Bharat Electronics Ltd (BEL) has evinced interest in reviving this State-owned ‘sick’ unit following its foray into the supply of explosives and detonators for the Defence, a State government official said.

On September 26, the Tamil Nadu government inked a memorandum of understanding with BEL, which will initially invest ₹50 crore in the the plant. “It is a win-win for both TEL and BEL. We will give TEL to BEL on a long-term lease. There is no plan of BEL taking over TEL,” he added.