Oriental Trimex to divest land assets, granite unit to streamline operations
Oriental Trimex
on Saturday said it plans to divest land assets and a small
granite unit
in Odisha to reduce expenses and streamline operations.
According to a business update shared on stock exchanges, the Odisha-based company said it plans to divest seven acres of land in the
Somnathpur Industrial Estate
, Balasore, and a small granite unit in the Rairangpur Industrial Area in Mayurbhanj district of the state.
"This decisive action will streamline our operations, reduce recurring expenses, and enhance liquidity for more focused investments," it said.
The company also said that it is poised to commence quarry operations at Black Granite mine this quarter and anticipate initiating commercial production shortly thereafter. The company received an official mining lease from the Odisha government for the
Black Granite quarry
in May this year. The lease encompasses 4.961 hectares in the village of Potteru in Malkangiri District.
Oriental Trimex also announced deployment of a "smart cut" machine with an ultra-thin wire which, it said, will help reduce waste by 20 per cent, optimise yields and bolster profit margins.
On demand scenario, the company informed that the rising trend of luxury apartment developments by prominent builders in the National Capital Region has created a vibrant market for its products, including high-quality imported marbles, indigenous granites, and marble-design vitrified tiles.
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