State policy is to strengthen public sector enterprises: P. Rajeeve

The Kerala government’s consistent policy over the last five years has been to strengthen, modernise and make public sector enterprises competitive and profitable, said Industries, Law and Coir Minister P. Rajeeve. He was speaking after inaugurating the new corporate office of Steel and Industrial Forgings Limited (SIFL) here on Monday (March 3, 2026).

The Minister said it is a matter of pride that the government has succeeded in turning the highest number of public sector units profitable. He noted that SIFL has been performing steadily and is currently operating at a profit of ₹76 crore. By the end of the current financial year, the profit is expected to rise to ₹90 crore. The government has set an ambitious target of transforming SIFL into a ₹200 crore profit-making enterprise by 2031, he added.

The new corporate office, built at a cost of ₹2.5 crore, spans 7,600 square feet. The function was presided over by Xavier Chittilappilly, MLA.