Residents of Mancherial, who gave away their lands for the establishment of the Mancherial Cement Company (MCC) in 1958, have expressed concern over the proposed auctioning of the plant’s assets by Indian Bank on January 12. The auction follows MCC’s failure to repay a Rs 54 crore loan.
Workers of the sick Mancherial Cement Company began a week-long relay hunger strike, opposing the proposed auction of company assets and urging the government to intervene and revive the 67-year-old cement plant that has been shut for years
Mancherial Cement Company, one of South India’s oldest cement manufacturers, is set for auction to repay Rs 54.04 crore in debts. Production halted, staff unpaid, and legal battles unresolved, marking the end of the 67-year-old industrial landmark
Fire department officials reported that a fire engine, along with six firefighters from the Mancherial fire station, successfully extinguished the blaze at the plant after a 20-minute effort. They added that the cause of the fire is still under investigation.
Mancherial Cement Company (MCC), one of South India’s oldest cement manufacturers, is facing imminent closure due to operational losses and mounting debts, threatening to end its industrial legacy
NPDCL Superintending Engineer Sesha Rao said the machinery of the cement plant, buildings and 184 acres of land belonging to the cement manufacturer were seized as per instructions of Collector Badavath Santos
