Mangalam Cement’s Rajasthan plant begins production
Production has started at Mangalam Cement’s new unit in Adityanagar Morak, located in the Kota District, Rajasthan. In a statement to the Bombay Stock Exchange, the company noted that the 1.25 million tpa mill began commercial production on 28 May 2014 following successful trial runs, increasing overall capacity from 2 million tpa to 3.25 million tpa.
Government cancels Jaiprakash Associates’ Chamba cement project
The Himachal Pradesh government has cancelled Jaiprakash Associates’ cement project in Churah Tehsil, Chamba District. The new Rs.800 crore plant was due to be constructed in close proximity to the Baroh-Sindh limestone deposits and would have provided direct employment to around 1000 people and indirect jobs to approximately 5000.
The memorandum of understanding (MoU) for the project was cancelled by the state cabinet in February 2014, while the order to cancel the plant project was given at the end of May 2014. The company’s plant in the Solan District is also under surveillance by the government due to overproduction.
Star Ferro & Cement Ltd releases quarterly results
Star Ferro & Cement Ltd recorded a net profit of Rs.10.9 crore in the quarter ended 31 March 2014, compared to a net loss of Rs.0.78 crore during the corresponding quarter in 2013. Sales rose by 91.82% to Rs.45.94 crore during the reporting period from Rs.23.95 crore recorded during the quarter ended 31 March 2013.
Edited from various sources by Rosalie Starling
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