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| Kichloo reviews functioning of JK Cements | | |
Early Times Report
SRINAGAR, May 16:The Jammu and Kashmir Cements Ltd. has achieved a business turnover of Rs.116 crore against sale of 1.68 lakh Metric Tons cement during 2012-13which has earned a net profit of Rs. 4.00 Crores after accounting for all expenditures, while as the Management has fixed a target of earning Rs.180 crore for this year.
This information was given at a review meeting of the Corporation held under the Chairmanship of the Minister of State for Industries and Commerce Mr. Sajad Ahmad Kichloo here today.
Threadbare discussion was held on the production and financial results, Authorized Share Capital (ASC), Utilization of vacant land, Utilization of 109 Kanals of available land at Village Wuyan, Diversification, Setting up of polypropylene (PP) Bags Manufacturing Unit.
Discussing the issue of utilization of vacant land, the Minister directed the Managing Director, J&K Cements Mr. R. K. Razdan to come up with a Detailed Project Report (DPR) for developing the land for various purposes like establishment of 600 TPD Cement Plant and other business units , as a joint venture.The Minister was apprized that with the strenuous efforts of the Management, the cement production capacity of the company is increasing day by day and after two months it would reach the desired level.
The meeting was informed that for the packing of cement the annual requirement is more than 75 lakh PP bags with an approximate expenditure of Rs 6 crore. In order to have a substantial saving on this recurring expenditure the Company proposed to install its own PP Bag manufacturing unit. Mr. Kichloo directed the concerned to come up with a detailed proposal in this regard. He said by establishing this unit, it will generate further employment avenues in the Company.
Addressing the meeting, the Minister directed the Management to work with utmost zeal and dedication and achieve fixed targets in full. He elaborated the Government endeavours to make the Jammu and Kashmir a Model State and emphasized the need to provide quality cement to the people.
Mr. Kichloo further said that by having a vibrant industrial sector in the State, the employment avenues of the unemployed youth can be increased besides ensuring a boost in the economic profile of the State which would be beneficial to the people living here.
Commissioner Secretary, I&C, Mr. Shanmanu, also gave overall briefing to the Hon’ble Minister about the progress achieved by the Company in the last 3-4 years. He informed the Minister that the Company has so far paid dividend of Rs. 4.20 Crores to the Govt. He also said that there was scope of further improvement in overall production of the Company. |
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