Union Minister for Heavy Industries H.D. Kumaraswamy has reportedly said that the revival package for Hindustan Machine Tools (HMT) is in its final stage.

The assurance was conveyed during the Minister’s visit to the Kalamassery unit of the company on Friday (May 22) and in a telephonic conversation with the National Confederation of HMT Unions president K. Chandran Pillai, according to a press release issued by the unions.

The Minister reportedly said that the revival package would include settlement of retirement benefits of former employees, wage revision, modernisation of the machine tools division, and fresh recruitment to strengthen human resources.

“The revival package was first announced during the Minister’s visit to the Kalamassery unit on August 19, 2024. Subsequently, a high-level technical committee chaired by NITI Aayog member Dr. Vijay Kumar Saraswat was constituted to prepare the package. Though the committee submitted its recommendations to the Heavy Industries Ministry in early 2025, the package is yet to be implemented,” the release said.

The unions said the Minister’s latest visit had renewed hopes among the employees of the cash-strapped company.

HMT chairman N. Ramesh Kumar, general manager J.K. Prasad, CITU leaders Krishnadas P. and S. Shibu, Linson and Arish of the INTUC, and the BMS’ T.G. Sreejesh were present during the visit.