They had not even dreamt of it, but it will soon come true.
Workers at Garware Nylons Ltd, who lost their jobs when the company went bankrupt in 1996, today own the plant at Ahmednagar (some 120 km from Pune), which is spread over six acres, and are planning to restart production soon.
The plant was shut on August 28, 1996, leaving more than 300 workers jobless.
The Bombay High Court had recently passed an order directing an auction of GNL's Ahmednagar premises to resolve the settlement issues. Sensing an opportunity, a voluntary group from Pune, the Common People's Front, united 210 workers and decided to bid for the premises at the auction.
The workers are now busy planning their future course of action.
"Since the company turned sick in 1996, workers and their family members have been living a tough life. Raising the Rs 6 crore (Rs 60 million) needed was really difficult. But the workers were confident and they won the bid," said Dominic Lobo, president, CPF.
A delegation of CPF members and workers' representatives will soon travel to Wai, a town near Pune, to buy machinery for making nylon thread.
"We plan to start production activity within the next six months. There are cost pressures building on us. But since we own the dead unit, bankers have shown interest in financing our project," added Lobo.
Approximately 18 per cent of the total 'auction amount' deposited with the Bombay High Court is expected to be paid back to the workers to settle their dues.
"People have even handed over jewellery and large sums from their provident fund. They will soon get their final dues from the court. By then, we plan to start production at the Ahmednagar unit," said Lobo.
"We will approach the state government as well as the Centre to get certain incentives to reinstate production. To begin with, we will start the production of packaging material," Lobo said.