PATNA: In its sustained bid to promote sugar industries in Bihar, the State Government has decided to hand over its two closed sugar mills to a private entrepreneur on long-term lease.
A Delhi-based firm — Tirhut Industries emerged as the successful bidder for taking over the two closed mills — Ryam in Darbhanga and Sakri in Madhubani district, recently, a senior official said.
The letter of intent to Tirhut Industries would be issued within a day or two, he told PTI.
Ryam and Sakri sugar mills, owned by Bihar State Sugar Corporation, was being handed over to Tirhut Industries on a lease amount of Rs 9.11 crore and Rs 18.25 crore, respectively, for a period of 60 years extendable for another 30 years, the official sai d.
The private firm would revive Ryam sugar factory, he said, adding it would develop a major ancillary unit in Sakri unit with an estimated investment of Rs 300 to Rs 350 crore.
The State Government would provide an additional 42 acres of land for setting up big sugar unit at Ryam. Both these units, which were lying sick for more than a decade, were smaller units in terms of crushing capacity as their capacity were only just 1, 000 tonnes crushed per day but Ryam unit would have a sugar mill, a distillery unit, an ethanol plant and co-power generation, sources said. — PTI
Source: Hindu Business Line, October 13, 2009
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