COMPANY ACTIVITY

Gujarat workers second in line after ATO

THE fate of the outstanding pay for 500 Gujarat NRE Coking Coal employees may rest on the company...

Lou Caruana
Gujarat workers second in line after ATO

A meeting of unions and employees last week is believed to have given the company a Tuesday deadline before stoppages would occur.

After waiting for a shareholders’ meeting last week to approve the $65 million capital injection by Gujarat’s major shareholder Jindal Steel, employees are still no closer to knowing when they will receive the outstanding wages.

The deal will leave Gujarat with $18 million in additional capital to use to pay off its creditors.

After the meeting, Gujarat issued a statement saying: “The company will make the necessary arrangements to pay all workers at both its mines, their wages and monies owing to them. No specific date can be set for these payments, except to say it will be made as soon and as early as possible.”

Chairman Arun Jagatramka was reportedly also unable to say when wages would be paid, according to the Illawarra Mercury.

“As a board, we will be meeting after this meeting and we will be discussing these things.” Jagatramka reportedly said.

“I believe we should be able to come out with a statement in the next few days.

“The thing is, we have sort out many things, before we actually start working.”

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