Shillong, Dec 19: Meghalaya chief minister Conrad K Sangma on Tuesday informed that the government has decided to go for the closure of the Mawmluh Cherra Cements Limited (MCCL).
Sangma stated that the Government is amicably settling the matter with the stakeholders and employees and they have more or less come to a conclusion of going for voluntary retirement scheme.
“There will be kind of a golden handshake with permanent employees and we will go for closure of MCCL,” said Sangma.
He mentioned that the government required huge investment for moving forward with the project even though more than Rs. 300 crores have been invested in the project in the last 15 years.
“We have tried our best to revive the MCCL but in given circumstances, public and employees are suffering and decisiveness has to be there and we have decided that we will be closing it with proper consultations with stakeholders for terms and conditions,” said the chief minister.
The chief minister, however, said the government has not finalised the decision and is still working on the terms and conditions for closing down the company.
“The decision has not been formalised yet because as I said we want to make sure that we are clear in terms of the terms and conditions black and white before we actually sign-off on that but more or less all the stakeholders are on the same page,” he said.
Asked on what happen to the decision taken by the Cabinet on July 19, 2021 to go for a joint venture with private entities to operate the MCCL, the chief minister however said, “We wanted to go for a joint venture but sadly we did not get too much of a positive response. As I said, at first, we had three options. First option was for the government to spend close to Rs 150 crore touching Rs 200 crores from our side which we felt it is very difficult for us to do.”
“Second option for us was to go for a joint venture where we had given out an expression of interest. We got few players but the players were not at that level where we felt they will be able to really do the justice to the kind of scale that we are talking about the investment and hence after doing all the evaluation of the different people who had applied, the department, the officials of MCCL and MD and the government as a whole were not satisfied with that,” he said while adding “Hence, as I said after deep consultation with everybody we have all now agreed that the third option is the right way to move forward.”
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