The Hindu : Andhra Pradesh News : Efforts to revive CCI unit gather pace

Online edition of India's National Newspaper
Tuesday, Sep 07, 2004

Andhra Pradesh

Andhra Pradesh

Efforts to revive CCI unit gather pace

By Our Correspondent

ADILABAD, SEPT. 6. The re-opening of the Adilabad unit of the Cement Corporation of India (CCI) in September looks certain, as efforts for its revival have gathered momentum. It is learnt that posting orders for about 230 technical and non-technical personnel drawn from the six other closed CCI units are being despatched soon.

Efforts gathered pace on August 25 when a meeting of the CCI management represented by CCI Chairman Keshu Tekchandani and Adilabad unit general manager, P. Sheshasai, and the Industry Secretary of the Andhra Pradesh Government, was held at Hyderabad. Issues having a bearing on the early opening of the factory were discussed at this meeting, according to sources.

Revival package

Sources said a detailed revival package presented to the Industry Ministry officials included writing off of over Rs. 11 crore penal interest on the debt of an equal amount incurred by the CCI, Adilabad. A 10-year sales tax holiday was also sought.

Sources said the response of the Andhra Pradesh Government was more than positive. It agreed to write off about 85 per cent of the debt and 96 per cent of the penal interest.

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