By Our Reporter
SHILLONG, Dec 9: The Mawmluh Cherra Cement Limited (MCCL), once known for producing high-quality cement, is now on the verge of closure.
The state government has taken a step toward liquidating the company, the oldest public sector unit in Meghalaya established in the 1960s, after approving a one-time special VRS plan for its 205 employees.
Speaking to media persons after a Cabinet meeting on Monday, Chief Minister Conrad K. Sangma said the government is in the process of closing down the MCCL and this special scheme has been worked out after holding discussions with the employees.
“We have proposed the scheme and it would be frozen once it is on paper. The closure will then be approved,” he said.
The government will provide about Rs 100 crore, which would take care of the liabilities of the MCCL and the VRS for the employees.
Asked about the government’s plan for the huge asset, he said a committee would be set up for its disposal.
Sangma outlined the reasons behind the decision to close down the MCCL.
He said the government floated EOIs to revive the project through a joint venture. Two of the three parties that participated in the bidding met the eligibility criteria but one of them vanished after showing interest.
“Reviving the project would have cost the government about Rs 190 crore,” he said.
He also said that the mining lease agreement of the MCCL with different agencies expired in 2017 and the plant has remained closed for the last five years.