Shillong, Oct 18: Chairman of the Mawmluh Cherra Cement Limited (MCCL), Wailadmiki Shylla, has informed that he would be leaving for Kolkata on Wednesday for inspection of the factory of Bhavika Commercial Private Limited (BCPL) before finalizing the joint venture to operate the MCCL.

Shylla will be accompanied by a team of MCCL officials.

Speaking to reporters, Shylla said BCPL is one of the three private entities which had participated in the Expression of Interest (EoI) floated by the state government.

“While two decided to back down, only BCPL have come forward with a presentation on its plan for (reviving) MCCL and it is quite practical,” he said adding “Tomorrow, I am leaving for Kolkata to verify the credentials of the BCPL on whether it is really a cement manufacturer company or not.”

The chairman said immediately he will submit a report on the matter to the chief minister. “The report will accordingly be taken up with the cabinet for its approval so that we can start the process of agreement (with the company),” he added.

According to him, there were more than eight private companies which had applied for the EoI.

On July 19, 2021 the state Cabinet had approved the proposal of the department for a joint venture with private entities to operate MCCL. The decision was taken after the state government could not invest Rs 190 crore to revive the cement company due to financial constraint.

Shylla said that before arriving at this decision, the government had sent a team to do a thorough survey on how to revive the plant.

“I am looking forward this (joint venture) will be a success and will be able to revive the MCCL,” he said.

When asked, the chairman said that the ownership will be with the state government. The government’s stake will be 51% and private company at 49%.