Telangana - NPDCL seizes Mancherial Cement Company assets
On wednesday, the mancherial Cement Company (MCC)'s assets were confiscated by the National Power Distribution Company Limited (NPDCL). Due to its failure to make payments in full, it had its assets confiscated. The order was reportedly given by mancherial district collector Badavath Santosh. The business stopped operating in 2019 and let go of around 100 employees. One of the first cement manufacturers in southern india is mancherial Cement Company (MCC). The company was founded in 1958 using German technology.
The mancherial Cement Company's assets and a cement production facility were seized by the Northern Power Distribution Company Limited on wednesday for failing to pay arrears of Rs 10.36 crore. According to NPDCL Superintending engineer Sesha Rao, collector Badavath Santosh ordered the seizure of the cement manufacturer's 184 acres of land, structures, and machinery at the cement factory. In 2019, the MCC has halted production due to operational losses and fired over 100 workers by enforcing the Retrenchment Act.
The mancherial Cement Company's assets and a cement production facility were seized by the Northern Power Distribution Company Limited on wednesday for failing to pay arrears of Rs 10.36 crore. According to NPDCL Superintending engineer Sesha Rao, collector Badavath Santosh ordered the seizure of the cement manufacturer's 184 acres of land, structures, and machinery at the cement factory. In 2019, the MCC has halted production due to operational losses and fired over 100 workers by enforcing the Retrenchment Act.
One of the oldest cement producers in south india is this one. It was built in 1958 with German technology on a massive 350 acre plot of land next to the Hyderabad-Nagpur highway, and it has an installation capacity of 1,000 metric tonnes per day.