DCBL starts ops at Murli’s Chanda plant

Nagpur: Murli Industries Ltd’s cement plant at Chandrapur, which had been shut for the last seven years, has now been restarted by Dalmia Cement Bharat Limited (DCBL), a subsidiary of Dalmia Bharat Limited.
The original promoters had run into trouble after the company’s loans to the tune of over Rs1,400 crore had turned non-performing asset (NPA). The DCBL had taken over the management through a process under the insolvency and bankruptcy code (IBC) last year.
The commencement of commercial operations at the Chandrapur plant were announced by DCBL on Monday.This would lead to an increase in DCBL’s overall production capacity by 2.9 million tonnes a year, said a press release issued here.
DCBL had taken over the plant last year and the entire plant has been renovated by replacing a number of key machineries.
DCBL had acquired the plant for Rs410 crore and later invested Rs910 crore for its revival and modernization. This includes funds spent on installation of green machinery, waste heat recovery systems, solar power, green fuel systems and robotic labs. Total investment of over Rs1,300 crore has been committed for the plant, out of which over Rs900 crore have already been spent.
“DCBL now plans to have its presence in Vidarbha, Marathwada and Khandesh markets,” said Hakimuddin Ali, executive director of the company. A substantial amount has been spent on green initiatives, he added.
On the overall market, he said the revival, as expected by Diwali, has not happened, though the company has a long-term outlook considering the demand for cement in the country.