Business News | Indian Potash to Revive Badamba Sugar Mill in Odisha with Rs 360 Crore Investment
Get latest articles and stories on Business at LatestLY. Indian Potash Limited (IPL) has signed a Memorandum of Understanding (MoU) with the Government of Odisha for modernization and expansion of Badamba Sugar Mill with an estimated investment of Rs 360 crore, the state-owned company said in a statement.
New Delhi [India], March 11 (ANI): Indian Potash Limited (IPL) has signed a Memorandum of Understanding (MoU) with the Government of Odisha for modernization and expansion of Badamba Sugar Mill with an estimated investment of Rs 360 crore, the state-owned company said in a statement.
Badamba Cooperative Sugar Mill in Odisha, which has reportedly remained shut for more than 15 years, is set to be revived, bringing renewed hope to thousands of farmers in the region.
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The MoU was signed by P. S. Gahlaut, Managing Director, Indian Potash Limited, and Rajesh Prabhakar Patil, Commissioner-cum-Secretary, Department of Cooperation, Government of Odisha, in the presence of Union Home and Cooperation Minister Amit Shah on March 6, 2026.
As per the MoU, the Badamba Cooperative Sugar Mill is expected to commence operation within one year and will have a capacity of 3,500 TCD (tonnes cane per day).
It will also consist of a 16 MW cogeneration power plant, a 10-tonne-per-day Bio-CNG plant, and a state-of-the-art cold storage facility, Indian Potash said.
"The project is expected to directly benefit around 10,000 farmers of the Badamba Block of Cuttack district by reviving sugarcane cultivation in the state, enhancing farmer income and generating employment in the region," the statement read.
Based on the successful turnaround of three sick sugar mills in Gujarat, Indian Potash, now under the guidance of the Union Cooperation Ministry took up the project for the revival of Badamba Cooperative Sugar Mill.
It roped in National Federation of Cooperative Sugar Factories Limited and SBI Capital Markets Limited for a detailed technical and financial feasibility study.
As part of the MoU, the Government of Odisha will provide 112 acres of land on a long-term lease basis to IPL for the establishment of the mill and associated infrastructure.
"The revival of the sugar mill is aimed at improving the income of farmers by promoting sugarcane cultivation, which is increasingly being recognised as an energy crop due to its potential for producing ethanol, power, and bio-fuels. The project is expected to stimulate rural economic activity, generate employment, and encourage farmers in the region to take up sugarcane cultivation once again."
P. S. Gahlaut, Managing Director, Indian Potash Limited, said, "The revival of the Badamba Sugar Mill reflects IPL's commitment to supporting farmers and strengthening agricultural value chains. By restoring this mill, we aim to create sustainable opportunities for farmers, encourage sugarcane cultivation, generate employment, and contribute to the economic development of the region. We look forward to working closely with the Government of Odisha and the local farming community to make this project a success."
Indian Potash Limited is one of India's leading cooperative companies engaged in the import, distribution, and marketing of fertilizers and agri-inputs. Over the years, IPL has also diversified into agro-industrial ventures and plays an important role in strengthening the cooperative ecosystem in India. The company currently owns 11 sugar mills across the country, six in Uttar Pradesh, three in Gujarat, and two in Odisha. (ANI)
(The above story is verified and authored by ANI staff, ANI is South Asia's leading multimedia news agency with over 100 bureaus in India, South Asia and across the globe. ANI brings the latest news on Politics and Current Affairs in India & around the World, Sports, Health, Fitness, Entertainment, & News. The views appearing in the above post do not reflect the opinions of LatestLY)