New Delhi: The Public Enterprises Selection Board (PESB) is looking to fill the position of Chairman and Managing Director (CMD) at Hindustan Copper Ltd (HCL) and has invited applications in this regard. The news comes at a time when the company is planning to reopen closed mines and augment production capacity to around 20 million tonnes per annum by 2024.
A notification released by the Ministry of Mines said, "The Public Enterprises Selection Board (PESB) is seeking qualified candidates for the post of Chairman and Managing Director (CMD), Hindustan Copper Ltd."
Candidates working with private sector firms that have an annual turnover of Rs 2,000 crore or more are eligible to apply for the post. "The names of the candidates…may be kindly forwarded so as to reach the PESB by…July 3," it said.
Currently, Santosh Sharma is the CMD of HCL and is set to retire soon.
The Cabinet had earlier give a nod to a fresh equity issue of 15 percent by HCL that would have helped the state-owned firm to raise over Rs 900 crore. Sharma had said that HCL was aiming to enhance its capacity by six times from the current 3.6 MTPA to 20 MT by 2023-24.
(PSU Watch– India's Business News centre that places the spotlight on PSUs, Bureaucracy, Defence and Public Policy is now on Telegram. Join PSU Watch Channel in your Telegram and stay updated)