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Future seen uncertain; to reduce ops by 20-22%
Century Textiles drops move on co-generation of power
E-Tex Staff - Mumbai
Century Textiles and Industries is going slow on its expansion and modernisation
programme. The company has dropped proposals for co-generation of power and
steam and thermal power plant. The proposal for installing a plant for generating
6 MW power and steam has been dropped in view of reduction in electricity charges
by Tata Power Company (TPC), due to availability of more gas to them and permission
to burn more coal in their Trombay unit. The company, in its annual report,
said that the proposal to install a thermal power plant of up to 10 MW capacity
at its existing plant site has been dropped due to operational and environmental
problems.
The company has now decided to install 6 MW power plant using
furnace oil at the plant site which is expected to be commissioned by the end
of the current financial year. In view of an increase in employees wages, octroi
duty and municipal taxes, the company has decided to gradually reduce operations
by about 20 per cent to 22 per cent. |
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