The Salt Trading Limited (STCL) has decided to close down the first vegetable ghee factory of Nepal, citing the growing losses.
The decision was taken at a board meeting of the company held on September 27, reports today said. The Hetuda-based factory, established 25 years ago, which produces vegetables oil brands- Grihani and Shanti– will be closed down permanently.
A general meeting of the company scheduled to be held on October 21 will take a decision on the company’s liquidation. The company was out of operation since last five months and was facing losses due to the lack of skilled management and difficulties in export, reports quoting officials said.
Meanwhile, 78 workers of the company have decided to launch protest against the decision to close down the factory.