Star Cement sets up Star Cement North East as a subsidiary in Assam
Star Cement has announced the formation of Star Cement North East Ltd as a wholly-owned subsidiary in Assam.
The company has been formed to conduct cement and cement-related business in accordance with the holding company's operations.
Star Cement North East Limited is a wholly-owned subsidiary company with its registered office in Guwahati, Assam.
The company is yet to start operations. The cost of acquisition is Rs 5,00,000/- divided into 50,000 Equity Shares of Rs 10/- each.
Star Cement closed Wednesday's trade at Rs 111.80 per share, up by Rs 0.85 or 0.77% on the Sensex.
Star Cement Limited is one of the largest cement manufacturers in North Eastern India, was founded on November 2, 2001.
Cement Clinker and Cement are manufactured and sold by the company. The company's manufacturing facilities are in Lumshnong, Meghalaya, and Guwahati, Assam.
The company sells its product in India's northeastern and eastern states. The 0.6 mtpa integrated cement plant of Star Cement in Lumshnong (Meghalaya) is close to key raw material reserves of limestone, coal, and shale.
In 2005, the Meghalaya state government recognised Star Cement for its pioneering cement plant in Lumshnong's backward area. The output of the company is marketed through a 400 billion dealer network, giving it the largest market share in north east India. Larsen & Toubro, National Hydro Power Corporation, Public Works Department, Indian Railways and the Ministry of Defense are among the company's institutional customers.