A meeting of representatives of the Union Industry Ministry, trade unions and management of Cement Corporation of India (CCI), bankers and creditors with the Board for Industrial and Financial Reconstruction (BIFR) will be held on Monday 27, January in New Delhi. This meeting is to consider revival of closed cement plants of the CCI, including the one at Adilabad.
The revival of Adilabad’s closed unit was linked to the State Government’s approval towards absorbing some of the related financial aspects. According to sources, the State Government has expressed its willingness to give certain concessions with regard to payment of nearly Rs.25 crores as outstanding power dues and about Rs. 5 crores outstanding on account of sales tax and royalty combined.
Simultaeneously, efforts are on here to get proper estimates of the worth of the Adilabad factory.