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JK Cements Ltd, which was closed for more than a month due to mounting liabilities and want of capital, has resumed production after state government infused Rs 28 crore in the loss making
public sector undertaking. JK Cements has resumed manufacturing cement again on Thursday after the state government came to its rescue and released the amount, said managing director, JKCL,
Ishtiyak Drabu. “So far Rs 28 crore has been released as the revival plan of the JKCL. We are optimistic that this time we will be able to propel this undertaking to profit churning unit
again,” he said adding that both management and employees of the company are enthusiastic about the revival of the company’s fortune. “Our production has started and hopefully in coming
days, we will witness a turnaround,” Drabu said adding that they are expecting further help from the government will take out this company out of the mess. “After starting operations we will
work out strategy to clear liabilities and ensure profitability of the company,” he said. Jammu Kashmir Cements Ltd was closed for over a month for want of capital as the liabilities of
this PSU have touched over Rs 100 crore. Despite having monopoly over supplying cement for government works in the state, JK Cements is bleeding heavy, while the private cement manufacturing
factories of Kashmir are increasing their profits year after year. JKCL was incorporated as a fully owned government company in December 1974 with the objective to exploit the abundant
deposits, make the quality cement available to the consumers at reasonable rates, besides filling up the gap between demand and supply. The cement plant of 600 tonnes per day capacity
installed at Khrew is listed as heavy sector industry which started commercial production in April 1982. The company is manufacturing OPC garage 43 and has obtained license for manufacturing
Fly Ash based blended cement from Bureau of Indian Standards (BIS). The JKCL is providing employment to more than 1000 semi-skilled, skilled, specialised and super specialized people
directly or indirectly. In addition to this, the company in the sale promotion of its product has engaged a good number of distributors and sub-distributors. The company plays a significant
role in the development of state by providing cement for the construction of major developmental projects undertaken by the state.