ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846

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Diversification Pays

Diversification Pays Hansavivek CENTURY SPINNING, already engaged in manufacture of diverse items such as textiles, cotton, rayon and tyre yarn, sulphuric acid, carbon-di-sulphide, caustic soda, salt and cement, is exploring possibilities of further diversification. The management will inform shareholders about the plans when they take concrete shape. Meanwhile, the company's pulp project has not made any progress. The cement project, being set up at Tilda with a capacity of 6 lakh tonnes per annum, is now expected to go into production in the next few months. Some delay has occurred owing to the delay in delivery of the main equipment by AVE. A letter of intent' has also been secured for establishing a cement plant at Maihar in Satna district of MP for manufacture of portland cement with an annual installed capacity of 7,50,000 tonnes. The management is trying to get a mining lease for limestone. The project to set up a textile spinning mill as a joint venture company in Indonesia is progressing. Trial production is expected to start in about a year. With a change in the conversion rate of Indian currency, Century's participation in the equity capital of the Indonesian company will now be about Rs 39 lakhs. The total value of plant and machinery to be exported from India for the project is expected to be around a crore of rupees.

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