Meghalaya Chief Minister Conrad K Sangma told the Assembly that despite infusing Rs 350 crore of funds, the state’s oldest cement company MCCL could not be revived forcing the government to look for private investors to run it in a PPP mode. The Mawmluh Cherra Cement Ltd (MCCL) is the oldest public sector undertaking unit and is the only state-owned cement plant set up in the early 1960s (then undivided Assam) in limestone rich Sohra but has lately suffered making it a loss-making enterprise.
“Since 2006 till date, Rs 350 crore has been infused into the Mawmluh Cherra Cement Ltd and in the last five years alone Rs 100 crore has been infused, mostly to pay salaries and other dues,” the CM said.”With so much investment, we are not able to revive it. For the government to continue investing in it may not be possible,” he continued.