Nepal Breaking NewsBusiness Cement Factory (Government Owned) Suffers a NPR 25-crore Loss

Hetauda Cement Factory (Government Owned) Suffers a NPR 25-crore Loss

Must Read
spot_img

In the fiscal year 2076/77 BS, Cement Industries Limited, a government-owned company, had a loss of 25 crores. The industry suffered significant financial losses as a result of the drop in cement production and sales during the COVID . The company to Rs. 25 crores in the current fiscal year 2077/78 as well.

An annual income of roughly Rs 2 Arba was created by the industry. The annual expenditure, on the other hand, exceeds the income. The company has overspent due to high staff costs and poor material management.

After being shut down for a long time due to a machine fault, the industry suffered a loss of Rs. 16.65 crores in fiscal year 2075/76. However, the industry made a profit of Rs. 15 crores in FY 2073/74 and Rs. 16 crores in FY 2074/75, respectively.

On Ashwin 13, 2033, Hetauda Cement Industry was founded. It has a capacity of 2.60 metric tonnes of cement per year. From 2048 BS forward, the industry began commercial manufacturing.

The industry is owned by the then Ministry of Finance, Ministry of Water Resources, Ministry of Industry, Department of Mines, and several government entities, and was established with credit support from the Asian Bank.

Hetauda Cement Industry has approximately 101 bighas with limestone quarries covering over 200 bighas. The industry’s basic material comes from limestone mines in Dhading’s Okhre, Bhaise, Majuwa, and Jogmara.

Currently, the industry employs 285 full-time people and roughly 100 part-time employees.

You May Also Like:

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Latest

Cooperation between Nabil Bank and DV Excellus on agricultural credit

and DV Excellus (Farming App) have agreed to enable farmers registered on the Farm platform with easy...

More Articles Like This