Bhubaneswar: The Odisha government has decided that the land of the Bargarh Sugar factory will be transferred to IDCO for setting up industries in future. IDCO will purchase the land in two phases.
It may be mentioned here that the crushing operation in the Bargarh Sugar factory could not be carried out for various reasons, such as a shortage of funds for repair, renovation and maintenance of the machinery. It was therefore decided to be liquidated.
The factory has a total of 103.21 acres of land. Out of this, IDCO will purchase encroachment-free land of 72.12 acres at a benchmark valuation in the first phase.
The remaining land will be handed over to IDCO after it is free from all litigations and encroachment. Then the whole patch of land will be used for industrial purposes by IDCO.
IDCO has paid Rs 40.68 crore to ADM-cum-Liquidator of Bargarh Co-operative Sugar Mills for transferring the ownership of the encroachment-free land measuring 72.12 acres in its favour.
