CCIL invites bids for strategic sale of Nayagaon unit
Cement Corporation of India Ltd (CCIL) has initiated the process of sale of one of its non-operating units Nayagaon Cement Factory and has invited bids from potential buyers. Entities, joint ventures or consortia with a minimum net worth or asset under management of Rs 200 crore in the financial year 2017-18 can submit their Expression of Interest (EoI) by April 16, 2019. As per the Preliminary Information Memorandum (PIM) for the proposed sale placed on the website of the Department of Investment and Public Asset Management (DIPAM), CCIL has invited EoIs from potential investors interested in acquiring the non-operating unit located at Nayagaon in Madhya Pradesh. Although the Nayagaon Cement Factory has remained non-operational since June 30, 1997, the mining lease of the firm is valid till February 15, 2024 and May 14, 2031 for Nayagaon Mine and Kherarathore Mine, respectively. The total liabilities of Nayagaon Cement Factory as at March 31, 2018, stood at Rs 27.3 crore, with similar quantum of total assets.
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