Govt exploring option of joint venture to revive MCCL: CM
SHILLONG: Chief Minister Conrad K Sangma on Tuesday said the government is exploring the option for a joint venture to run the Mawmluh Cherra Cements Limited (MCCL).
Replying in the House, Sangma said that the government cannot continue investing on the MCCL and for the interest of the employees and state finances, it is exploring all options of a joint venture partnership to run the company.
He however said the government is yet to take a final decision on the matter.
The CM informed that the government was not able to revive the Mawmluh Cherra Cements Limited (MCCL) despite having invested over Rs 350 crore.
He said during the last five years, Rs 100 crore was also infused to take care of the salaries and dues of the MCCL.
Sangma informed that joint venture partnership is part of the three options that the government is examining. The other two options being for the government to continue to invest in the company or to close down the company.
“These are only way out and we are trying to come up with the best solution so that not too much financial stress is put on the government,” he said.