Confidence Cement to get rid of cost-ineffective unit
The company has informed that the board of directors has decided to demolish the Unit-1, which has a production capacity of 600 tonnes per day, as it is cost-ineffective. Maintenance cost and consumption of electricity are so high that the unit is not financially viable.
The board decided to install a slag dryer plant in place of Unit-1 that will ensure uninterrupted operations of Unit-2 and Unit-3. It recommended 15 percent cash and 20 percent stock dividends for the year that ended on June 30, 2018.
