Chennai (Staff Correspondent), November 12: Coromandel Engineering Company Limited (CECL) conducted its Board Meeting on Tuesday in Hotel Accord Metropolitan for the appointment of new directors, unaudited financial results for the quarter ended and Half year ended September 2024 and the signing of a strategic Memorandum of Understanding (MoU) aimed at enhancing the company’s growth and expansion.
During the meeting, the Board approved the appointment of the following New Directors:
- Mr G V Manimaran, B.Sc.(Agri), LLB., MBA.,(The Founder Director of Sasvitha Home finance Ltd., and the former Director of Canara Bank.) as Chairman & Managing Director, and whole time Director of CECL.
- Dr M Ravi Ph.D., IPS., (Former DGP of Tamilnadu) as Non-Executive Independent Director.
- Dr Ennarasu Karunesan Ph.D., (Former CEO of Adani ports, Mundra, Regional Director – India of IAPH) as Non-Executive Director.
- Mr S Baskaran, B.E., M.B.A (Managing Director, Sameera Estates)as Non-Executive Director.
These esteemed individuals bring a wealth of expertise and experience toCECL and are expected to contribute significantly to the company’s strategic growth plans.
The newly appointed directors bring valuable and modern knowhow in infrastructure development, real estate, and financial planning, aligning seamlessly with CECL’s mission and vision.
This strategic addition is set to elevate CECL and to pave the way for it to become a top-notch engineering and infrastructure development company.
In addition to the new appointments, the Board has signed MoU with M/s. Nico Allen Infrastructure Private Limited & Bharath Medical College and Hospital, to execute infra projects estimated at a value of Rs.450Crores
CECL was incorporated in 1947 and completed 77 years of excellence in the construction industry with various landmark projects like
✓ LIC building, Anna Salai, Chennai
✓ Vishnupuram Cement plant, Andhra Pradesh
✓ Paradeep Phosphate Limited, Odisha
✓ Thermal Power Plant, Vijayawada
✓ Trident Hotel, Chennai
✓ Hotel Chozha Sheraton, Chennai
✓ Holiday Inn, Bengaluru
✓ Standard Chartered Bank
✓ DBS, Chennai
✓ Coromandel Engineering holds “CORAL” trademark to build their residential projects and executed more than 50 residential apartments till date
The Board expressed optimism about the future and affirmed its commitment in achieving the company’s strategic goals with the support of the newly appointed directors and more such MoU’s in the anvil are to be executed.
Nagalingam Muthiah, Independent Director, who Chaired the board meeting in the beginning said, “We are thrilled to welcome our new directors to the Board and are excited about the growth opportunities the new leadership team planning to bring in. Together, we are positioned to create greater value for our stakeholders and drive our company forward.”
