Hindustan Organic Chemicals sets up R&D sub-committee

Mumbai, May 31: In a bid to leverage its research and development (R&D) capability, the public-sector `mini ratna', Hindustan Organic...

Mumbai, May 31: In a bid to leverage its research and development (R&D) capability, the public-sector `mini ratna’, Hindustan Organic Chemicals (HOCL) has set up a sub-committee to give a new direction to its in-house research and technology development.

"The formation of this sub-committee follows the reconstitution of HOCL board by inducting three non-official members as per the terms of its mini-ratna status," a statement said here on Monday.

A five-year R&D plan was being reviewed with emphasis on value-addition, Hindustan Organic said, adding that the committee had met and taken stock of the present status, discussed future growth plans and directions required in R&D.

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The sub-committee has the director of the National Chemicals Laboratory as its chairman.

HOCL had set aside 30 per cent of its R&D budget for sponsoring certain schemes at a number of national institutes aimed primarily at developing new molecules and processes for products with established application to respond to new markets, the statement said.

The company’s R&D thrust had led to overall recurring savings to the organisation worth Rs 6 crore per annum in the last three years and a one- time saving of Rs 2.6 crore, it said.

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