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All Transactions of Malabar Cements Transparent, Says Oommen Chandy

Chief Minister Oommen Chandy said that the purchase of raw materials and machinery was carried out in a transparent manner.

Published: 27th May 2015 06:00 AM  |   Last Updated: 27th May 2015 08:42 AM   |  A+A-

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ALAPPUZHA: Chief Minister Oommen Chandy has said that the transactions of Malabar Cements Limited (MCL) are transparent which in turn helped company clock a record profit of `129 crore in past four years.

He was speaking after inaugurating the public meet in connection with the reopening of MCL’s Pallipuram unit in Cherthala on Tuesday. He said that the purchase of raw materials and machinery was carried out in a transparent manner.

“The tendering process was transparent in all the deals. No corruption allegations were raised during the UDF government’s tenure,” Chandy said. Pallipuram unit can produce around 600 tonnes of cement per day.  In one year, the unit will achieve record profit. “MCL is selling cement at a price much lower than market price,” he added.   The production capacity can be enhanced into 1,000 tonnes, Chandy said.

Industry Minister P K Kunhalikutty presided over the function while K C Venugopal MP unveiled the products. A M Aarif MLA flagged off the first vehicle that carried cement out of the factory.

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