State nod for revival of cement unit in Nalgonda.

The State government has given the nod for revival of Bheema Cements in Ramapuram of Nalgonda district, a unit that shut shop on March 4, 2014 following losses and for non-payment of dues to the Government.

Following a representation by the company, a committee comprising Commissioner-Commercial Taxes (CT), Director-Mines & Geology and TSSPDCL chairman gave its recommendation. Only then did the government give the conditional nod for its revival, said Minister for Industries K.T. Rama Rao.

The conditions include that Bheema Cements shall pay ₹ 10 crore to Commercial Taxes department immediately and the balance of ₹ 7.14 crore in 36 monthly instalments, pay ₹ 2 crore to TSSPDCL and remaining ₹ 10.60 crore in 60 monthly instalments, and dues of ₹ 4.66 crore to the Mines department in 36 monthly interest-free instalments after a moratorium of two years. The government also waived off all penalties, interest and surcharges of commercial taxes and mines departments, the Minister said.

THE HINDU