Left parties have accused the Union government of deliberately dismantling Ranchi-based Heavy Engineering Corporation (HEC), arguing that the public sector giant is being pushed towards closure so that its nearly 5,000 acres of prime land and high-value assets can be transferred to private corporations.
CPI leader Ajay Singh said the sequence of decisions over the past few years shows a clear pattern. According to him, strategic orders worth Rs 1,200 crore were withheld, working capital was stopped, and the SBI bank guarantee was withdrawn without explanation. These moves, he said, signalled that the government was not interested in reviving HEC.
The leaders also said that HEC’s operational capacity has been steadily weakened. Workshops received minimal maintenance, machines were left idle, and township services thinned out. Employees have continued working for more than two years without salaries, yet no corrective action has been taken.
They contended that the land and assets of HEC are the real target. With one of the most valuable industrial estates in the country, the corporation’s land, machinery, and township infrastructure are being portrayed as “non-performing” to justify future private takeover.
Ajay Singh pointed out that a high-level committee headed by NITI Aayog member Dr V. K. Saraswat had recommended a 1,200 crore rupee modernisation plan that could bring HEC back to profitability within two to three years. The report, he said, was sidelined because it did not align with the push for closure.
The leaders warned that shutting down HEC would weaken India’s heavy engineering ecosystem and increase dependence on imports. It would also affect the supply chain for indigenous equipment used by agencies such as ISRO and DRDO, creating long-term strategic vulnerabilities.
They reiterated their demands for immediate release of pending orders, restoration of the SBI bank guarantee, implementation of the modernisation package, payment of 26 months of pending wages, and an assurance that no portion of HEC’s land or assets will be transferred to private entities.