The Telangana government today said it is extending sops to Bheema Cements Ltd in Nalgonda district for its revival.
According to an official release, established in 1986, Bheema Cements had the capacity of producing 0.9 million tonnes cement per annum.
The plant was closed due to loses in 2014. Mining leases allotted to the plant also lapsed.
In November last year, the state government established a committee comprising senior officials for revival of the company.
Based on the recommendations of the committee the government agreed to give some facilities for paying tax and power dues, it said.
"After formation of Telangana, the chief minister announced entrepreneur friendly and country-wide applauded industrial reforms, generation of surplus power, encouraging industrial policy (TSiPASS) and with vide scope for industrial growth, the government considered revival of the sick unit M/s.Bheema Cements Ltd which stopped operations prior to formation of Telangana," the release said.
"On revival of the company, there will be augmentation of revenue and value-addition to the government and also generation of employment directly and indirectly," it added.
In the wake of revival, the company assured to commence operations and production immediately and in the process generate employment up-to 1,000 jobs directly and indirectly and further assured an annual turnover of Rs 350 crore in addition to the value-addition to the state exchequer, said the release.
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