Staff Reporter

Tuticorin: Communist Party of India (Marxist) cadres staged a demonstration at Muthiapuram near here on Thursday.

They urged the authorities concerned to resume functioning of the Southern India Petrochemicals Corporation (SPIC) plant here.

The agitators said that the Government should constitute an inquiry commission to look into the situation that made the “profitable” unit plunge into loss.

“Imbroglio”

According to them, the present imbroglio was “caused by the management,” which went back on its commitment to repay at least Rs.1,479 crore worth of loans, constituting 52 per cent of the total term loans that the company owed to various financial institutions, as asked by the consortium of banks.

V. Balasubramanian, district secretariat member, and K. Kanagaraj, district secretary, of the party, spoke.

Members of the Tamil Nadu Vvasayigal Sangam submitted a memorandum to the Collector, R. Palaniyandi, urging the district administration to revive the fertilizer production at SPIC.

Farmers told the Collector that continued closure of the unit could lead to shortage of fertilizer during the ensuing crop season.

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