Nagpur: Murli Industries Cement Factory Ltd.
in Chandrapur, which has been closed for the past seven years, has now resumed by Dalmia Cement Bharat Limited (DCBL), a subsidiary of Dalmia Bharat Limited.
The original promoters experienced problems after the company’s loan for songs more than RS1,400 Crore had changed non-performing assets (NPA).
DCBL has taken over management through a process under the bankruptcy and bankruptcy code (IBC) last year.
The commencement of commercial operations at the Chandrapur plant was announced by DCBL on Monday.
This will lead to an overall increase in DCBL production capacity of 2.9 million tons per year, the press release said here.
DCBL has taken over the factory last year and the entire factory has been renovated by replacing a number of main machines.
DCBL has acquired a factory for Crore RS410 and then invests RS910 Crore for resurrection and modernization.
This includes funds spent on the installation of green machines, waste heat recovery systems, solar power, green fuel systems and robot laboratories.
The total investment of more than RS1,300 Crore has committed to the factory, where more than the RS900 Crore has been spent.
“DCBL now plans for its existence in the Vidarbha Market, Marathwada and Khandesh,” said Judgeuddin Ali, company executive director.
The substantial amount has been spent on green initiatives, he added.
On the market as a whole, he said the revival, as expected by Diwali, has not happened, even though the company has a long-term view given the demand for cement in this country.