ACC Cement Technology Institute opened in Jamul, Chhatisgarh
The ACC Cement Technology Institute (ACTI) was formally inaugurated today. Located near the company’s Jamul plant in the Durg district of Chhatisgarh, this institute will train young Diploma Engineers to serve as Frontline Managers in the company’s cement plants.
ACC Cement Technology Institute offers an Advanced programme in Cement Technology commencing this month. The 12 month course is a mix of classroom and experiential learning. The first batch has 45 candidates in the age group of 23 years and below who are top performers drawn from diploma engineering colleges spread across the country. The candidates join as employees of the company and are paid a monthly stipend and provided free lodging and boarding during the training period.
Presiding at the inauguration ceremony, Sumit Banerjee, Managing Director, said “This institute is an effort on the part of the company to partner with the community in providing employment opportunities for the youth. Capability development through training and knowledge building is the most profitable investment we can make, both for employees and for the society around us. The money we spend on training our employees comes back to us manifold through greater productivity and efficiency. And what we do for the local community in this respect directly aids in their empowerment and in the generation of sustainable employment opportunities. Sumit Banerjee also advised the first batch of trainees that they need to have a willingness to learn by rolling up their sleeves and dirtying their hands.
ACC Jamul Plant Head, Mr. J. L. Tiwari, described several initiatives the company is actively pursuing in the area of education, training and knowledge management targeted at employees as well as the community at large. ACTI is the third in a series of significant steps ACC has taken to create a pool of trained technical manpower at different skill levels drawn from local youth around the company’s vicinity and from economically weaker sections.
The Sumant Moolgaokar Technical Institute at Kymore in Madhya Pradesh was reopened in August last year to train about 90 young men from ITI’s in specialized technical trades to become artisans to meet the needs of the Cement Industry. SMTI offers courses in Electrical, Instrumentation, Diesel and Fitting trades in cement plants. As part of a public-private partnership scheme, ACC is working with Government and industry associations to upgrade Government run ITI’s located near the company’s cement plants. Agreements for partnerships with 7 ITI’s have been finalized with state governments so far.
ACC’s knowledge agenda is being steered by Dr Rajen Mehrotra, who was inducted last year as Chief Knowledge Officer. Dr Mehrotra is a reputed professional and academician with considerable experience interfacing in this field with industry, government and international organisations. Before joining ACC, he was with the United Nations-International Labour Organisation as Senior Specialist on Employers’ Activity for South Asia. Dr Mehrotra said “We have several plans to provide focused technical education and training, all of which will ultimately be structured under the umbrella of what we like to call the ‘ACC University’ for building a pool of talent of diverse skills.”
Sourced From: ACC
ACC stock price
On August 22, 2014, ACC closed at Rs 1491.70, down Rs 9.05, or 0.6 percent. The 52-week high of the share was Rs 1545.90 and the 52-week low was Rs 912.05.
The company's trailing 12-month (TTM) EPS was at Rs 55.27 per share as per the quarter ended June 2014. The stock's price-to-earnings (P/E) ratio was 26.99. The latest book value of the company is Rs 416.33 per share. At current value, the price-to-book value of the company is 3.58.
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