The Hindu Business Line : Efforts to revive Cement Corp’s Adilabad unit

A meeting of Industrial Financial Reconstruction (IFR) has been convened on August 27 to explore the possibility of extending some relief measures aimed at reviving the ailing Cement Corporation of India (CCI) plant located in the backward district of Adilabad.

The Prime Minister’s Office and the Union Ministry for Heavy Industries have already been informed about the concessions extended and requested the Government to consider a revival and restructure package for the cement factory.

Salary payments

The issue of the Andhra Pradesh Government’s efforts for revival of the cement factory was raised in the State Assembly during question hour.

As of now, 98 employees of the cement unit and 259 contract labourers have been receiving salaries according to the court directives, the House was informed.

The question was raised after a recent announcement by the Andhra Pradesh Chief Minister, Dr Y.S. Rajasekhara Reddy, during his Palle Bata tours, that, efforts would be made to revive the cement plant.

WEAVERS’ ISSUE

In another question on starvation deaths of handloom weavers, the State Government stated that the number of deaths due to suicides have come down after 2006. The State Government had taken measures to bring more number of weavers into the cooperative fold and provide them with equity.

The State Government is also considering waiver of loans totalling Rs. 312 crore taken by various weavers’ cooperatives societies and individual weavers covered under the Artisan Credit Cards, the Prime Minister’s Rozgar Yojana and the Rajiv Yuva Shakhthi schemes.

One member of Opposition mentioned that weavers are borrowing heavily from micro finance institutions.

More Stories on : Sick Units | Cement | PSU | Andhra Pradesh

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