The state government has set a deadline of July 18 for two interested companies to present their plan for the proposed joint venture to rescue the ailing Mawmluh Cherra Cements Ltd (MCCL).
In the meantime, the government has announced Rs 2 crore quarterly to pay salaries at the state-owned company, which is on life-support.
With the firm constantly running up massive losses, the government had proposed that MCCL form a joint venture with a private player.
“We called those two major companies that had earlier come forward for a joint venture to give their final presentation on July 18 on whether they are going to proceed or not,” MCCL Chairman and Jowai MLA Wailadmiki Shylla said.
The government’s announcement of Rs 2 crore quarterly came after the MCCL Employees’ Union threatened agitations if their pending salaries were not released.
Shylla made the announcement of the financial aid on Monday. However, Sohra MDC Titosstarwell Chyne, who is also the Chief Executive Member of the Khasi Hills Autonomous District Council, and Shella MLA Balajied Kupar Synrem have already said that this amount is insufficient.
