SC verdict to boost Lafarge Surma Cement financials

Guwahati : The Supreme Court’s judgement allowing limestone mining in Meghalaya by Lafarge Umiam Mining Private Ltd (LUMPL) has injected a fresh lease of life into Bangladesh-based Lafarge Surma Cement Ltd (LSCL). LSCL has been losing around $1 million every month since the project in Meghalaya was stalled.

LUMPL is a fully-owned subsidiary of LSCL, which operates a $250-million cement plant in Chhatak, Bangladesh. The plant is dependent on LUMPL limestone supplies from the East Khasi Hills district in Meghalaya. A senior LSCL spokesperson told Business Standard that after the Supreme Court verdict, the company is preparing to resume operations in Meghalaya “as soon as possible."

“We welcome the decision of the Supreme Court, which allows us to mine at a quarry in Nongtrai, Meghalaya. We are awaiting the detailed judgment, so that we can resume our operations that were stalled in February 2010. The decision would also secure the livelihood of thousands of people on both sides of the border, who are directly or indirectly dependent on this project," he said.