ITC’s Nepal venture suffers due to Maoist unrest
December 13th, 2009 - 4:52 pm ICT by IANSKathmandu, Dec 13 (IANS) After remaining closed for four days and incurring a loss of millions of rupees, ITC’s premium venture in Nepal, tobacco and garments manufacturing company Surya Nepal reopened Sunday.
The multinational company, in which British American Tobacco as well as individual Nepali investors also hold shares, was among the scores of industries that remained shut in southern Nepal after the Maoist trade union enforced a closure in the industrial corridor in Nepal’s terai plains from Wednesday.
Parsa, Bara and Rautahat, the three districts in the plains where the industries are concentrated, were shut down by the All Nepal Trade Union Federation (Revolutionary) in a bid to create pressure on the government to resolve a different issue.
The Maoists are backing a health workers’ stir in a private medical college in Parsa and resorted to the closure to get greater leverage.
After talks with state officials and industrial representatives Saturday night, the Maoist trade union decided to call off the closure.
Surya Nepal’s tobacco factory is located in Bara district.
This year, the company began efforts to build a second factory in central Nepal in a bid to move away from the Terai, which remains the most disrupted region in the country.
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Tags: british american tobacco, central nepal, garments, health workers, industrial corridor, industrial representatives, itc, manufacturing company, maoist, maoists, medical college, multinational company, nepal trade, parsa, rupees, southern nepal, state officials, terai, tobacco factory, trade union federation
