Orissa have decided to sell their loss-making public sector undertakings (PSUs) to strategic investors in what is being perceived as a major privitisation move.

Orissa have 36 state-owned enterprises of which 22 are recording heavy losses.

Adam Smith Institute, a UK-based consultancy firm, have been appointed to estimate the value of the movable and immovable properties of about ten units in the first phase of the privatisation plan. They are the Orissa Leather Corporation, Orissa Leather Industries, KS Refractories, General Engineering Ltd, Orissa Timber Works, Orissa Instruments Ltd, State Handloom Development Corporation, New Mayurbhanj Textiles, Konark Television and the State Commercial Transport Corporation.