Diversification from Textiles

Diversification from Textiles Hansavivek CENTURY SPINNING AND MANUFACTURING COMPANY is going ahead with its diversification projects. It has got a mining lease for limestone mines for Manikgarh cement project from government of Maharashtra, Since major part of area fails under 'reserved forests', clearance from Central government is awaited under Conservation of Forests Act. Meanwhile shipments of imported equipment and despatch of indigenous equipment have started. Civil construction work is in progress. UP government has finally released land required for company's rayon pulp and paper projects. Construction work is in full swing and erection of machinery has also commenced. Both plants are expected to go into commercial production during second half of this year. State government has decided to modify its original order fixing price of timber to be supplied to company. Recent prices and other terms indicated by state govern- The Week's Companies ment are prohibitive. Directors have taken up the matter with state government and they hope that a reasonable solution acceptable to both parties will be found.