Government to set-up one more 1000 MTD cement plant at Khrew: Kichloo
SRINAGAR: With a view to capturing available local market share for the cement appropriately, the Government decided to set up one more 1000 Tonnes per day cement plant in public sector on the available about 240 kanals of vacant land at the existing J&K Cements plant at Khrew in District Pulwama.
Decision to this effect was taken at the 97th meeting of the Board of Directors of Jammu & Kashmir Cements Limited presided over by the Minister of State for Industries & Commerce (Independent charge) Mr. Sajad Ahmad Kichloo, who is also Chairman of the Company.
Decision to install a new cement plant at Khrew was taken to fill the gap in demand and supply of cement in the local market as according to preliminary survey, the requirement of cement in the State is about 30 Lakh M/Tonnes per year, against the installed capacity of about 15 Lakh M/Tonnes annually with an average growth rate of 10% per annum which clearly indicates that installation of additional cement plant would be a feasible venture.
The Commissioner Secretary, Industries & Commerce, Mr. Shanmanu, Director Budgets Dr. Ishaq Wani, Director Geology & Mining Mr. Farooq Ahmad, Managing Director J&K Cements Ltd. Mr. R.K. Razdan, representatives of Planning and Power Development Deptt. and concerned officers also attended the meeting.
The Board also approved the proposals for various schemes of diversification and expansion so that the Company gains strength in the private market and also adopts diversification mode, as a result of which the Company will get strengthen in its position financially also.
The meeting also discussed threadbare the status of the up-coming Rs. 27.00 Crore 300 MTD Clinker Grinding Cum Packing Unit at Samba. It was noted that the unit is at final stage of completion and shall be put on Trial Run within a fortnight. The meeting also approved that the cement produced from this unit be sold under the Brand name of Chenab Brand.
The meeting also approved enhancement in the Gratuity ceiling from existing Rs. 3.50 Lakh to Rs. 10.00 Lakh for the employees of the company.
Speaking on the occasion the Minister called for bringing both qualitative and quantitative improvements in the functioning of plant without compromising on the quality. He said Company should compete in a befitting manner. He also asked the Management of the Corpn. to further focus towards Corporate Social Responsibility (CSR) and the Company should maintain Eco-friendly atmosphere in and around the cement plant.
Briefing about the fiscal and financial achievements made during 2011-12 and 2012-13, it was noted with satisfaction that the company has shown growth of 47% in two consecutive years and earned profit of Rs. 8.35 Crores in two years. Managing Director, Mr. Razdan assured that the company will strive hard to excel in future as well.
Commissioner Secretary, Industries & Commerce Mr. Shantmanu stress upon the need to maintain ecological balance.
