India News | IDCO to Purchase Bargarh Sugar Factory Land

Bhubaneswar, Mar 15 (PTI) The Odisha government on Friday decided to transfer the land of Bargarh Sugar factory to IDCO for setting up industries in future, an official at the Chief Minister's Office said.

The state-owned Odisha Industrial Infrastructure Development Corporation (IDCO) will purchase the land in two phases, he said.

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Since the crushing operation at the Bargarh sugar factory could not be carried out for various reasons such as shortage of funds for repair, renovation and maintenance of the machinery, the state government decided to liquidate the unit.

The factory has a total of 103.21 acres of land. Out of this, IDCO will purchase the encroachment-free land of 72.12 acres at a bench-mark valuation in the first phase, the official said.

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The remaining portion of the land will be given to IDCO after it is made free from all litigation and encroachment. Then IDCO will be able to use the whole patch of land for industrial purposes.

Meanwhile, IDCO has paid Rs 40.68 crore to the ADM-cum liquidator of Bargarh Co-operative Sugar Mills for transferring the ownership of the encroachment-free land in its favour.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)