Ambuja, ACC cement operations shut down at Darlaghat, Gagal

Due to huge financial losses caused by poor cement dispatch from the twin plants of ACC at Gagal and Ambuja Cements at Darlaghat, the management has decided to close their operations as of tomorrow. The Adani group recently took over the two plants. According to a notice issued today, the management stated that due to rising operational costs, including transportation and raw material costs, as well as current market conditions, cement transportation has been drastically reduced. This has resulted in poor cement dispatch, reducing the company's market share. The company was suffering from massive financial losses. Given these circumstances, management has been forced to immediately halt operations at its two plants and all related activities. All employees have been instructed not to report to work until further instructions are issued later this evening. Hundreds of people work in the two plants. Also read: Invenire Energy to invest $500 mn in Andhra CBM block Sweden likely to invest 150,000 million in UP