The two state-owned companies named the Fertilisers and Chemicals of Travancore (FACT) and state-owned Malabar Cements Ltd have signed a new MoU between them on Sunday in order to sell gypsum. The sources related to the MoU signing have informed that the Malabar Cements would be purchasing a minimum of 15,000 tonnes of gypsum during the next three months from FACT, under the agreement.
The Chairman and Managing Director of FACT, Dr George Sleeba and the Managing Director of Malabar Cements, Mr. K Sreenivas have signed the agreement on behalf of their respective companies. The two companies did also organise a nice function for the agreement signing on Saturday. According to a source from the industry, the gypsum is actually a byproduct that is obtained during the production of Phosporic Acid and it is mainly used as a raw material in the production of cement.
The sources from the industry are also informing that the FACT is having a stock of about 60 lakh tonnes of gypsum at Udyogmandal and Ambalamedu units of the company at the moment. They further said that the company is also planning to sign similar types of MoUs with some other cement companies in the near future so that it can be able to sell gypsum to them as well.
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| Posted : 1/22/2008 |
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