Malabar to set up cement handling unit
The Kerala Government has given approval to Malabar Cements for setting up a bulk cement handling unit at Kochi Port. The project cost is estimated to be around Rs 160 crore. The company will get interest-free KVAT loan, based on VAT remittance. The loan must be repaid in five years with equal instalment after a moratorium period of one year. Malabar Cements will build a cement handling and bagging unit following the decision of the Kochi Port in permitting cement companies to bring raw materials for cement manufacturing through sea route using the port facilities. The plant will have a capacity of 0.6 mtpa.