A Glimpse of Hope for Ailing Bihar Sugar Industry
Patna: January 3, 2008
The fate of the 11 sick sugar mills in Bihar got a much-needed shot in the arm on Thursday when industrial giants like Reliance Industries and Hindustan Petroleum Corporation Ltd (HPCL) emerged as the biggest bidder for the Motipur and Lauriya units respectively outbidding other players in the game like India Glycols and Upper Ganges Sugar Mills.
While Reliance made an offer of Rs. 57 crore for the Motipur unit of the of Bihar State Sugar Corporation, the HPCL made a bid of Rs 45 crore for the Lauriya unit in West Champaran and a bid of Rs 50 crore for the Sugauli unit in East Champaran, officials in Patna said.
In an attempt to revive the ailing sugar industry in Bihar, the Nitish government had announced its decision last November to offer 15 closed mills on a 60 year lease, extendable by an additional 30 years under certain conditions.
The move is expected to net over Rs. 300 crore for the state.
Since there were no bids for the three sugar mill units in Warisaliganj, Goraul, and Banmankhi, the government is preparing to put these plants up for bid again on equally attractive terms, officials said.
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