2 months ago
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Faced with a prolonged fiscal crunch, State-run Travancore Cements Limited (TCL) is present exploring the options of processing its spot successful Kochi metropolis into a residential task to unafraid amended returns, alternatively than outright sale.
Official sources said the institution has received directives from the State authorities to prosecute a nonrecreational designer to facilitate the land’s development, with the eventual purpose of allocating it for residential purposes. “The program is to make it either arsenic a villa task oregon a residential colony for authorities institutions,” noted an official.
In November 2023, TCL had initially decided to merchantability its 2.79-acre spot astatine Vazhakkala adjacent Kakkanad successful Ernakulam to flooded its fiscal difficulties. Despite aggregate attempts, the onshore did not pull buyers. Eventually, a bidder won the tender with an connection of ₹23.07 crore. Legal complications, however, delayed the transaction and forced the institution to cancel the tender.
In January 2026, pursuing solution of each ineligible issues, TCL issued a planetary re-tender for the land’s sale. Yet, the 2nd circular besides failed to pull participants, starring the institution to determine connected processing the onshore for aboriginal use.
Meanwhile, TCL is besides readying to initiate proceedings to merchantability its 1.81-acre crippled successful Chembu adjacent Vaikom.
Despite the terrible fiscal crisis, the institution had resumed accumulation and reinstated wage payments successful June past year. However, operations faced different setback erstwhile the Employees Provident Fund Board froze the company’s slope accounts past week owed to unpaid EPF contributions.
TCL presently employs 103 people, with a monthly wage outlay of ₹36 lakh, covering each unit from the president to impermanent workers. Additionally, determination are 120 retired employees, with gratuity liabilities amounting to ₹5 crore. Outstanding payments to contractors, including for the acquisition of clinker, basal astatine ₹10 crore.
Established successful 1946, TCL remained profitable until 2000 but was severely affected by the prohibition connected dredging clams successful Vembanad Lake, its superior earthy worldly source.
