Site icon Top Post Bharat

Odisha Govt to Transfer Bargarh Sugar Factory Land To IDCO

Odisha Govt to Transfer Bargarh Sugar Factory Land To IDCO

IDCO Has Paid 40.68 Crore For 72.12 Acres of land In First Phase out of Total available Land of 103.21 Acres. To be Used For Industrial Projects.

Bhubaneswar: The State Government has resolved to transfer the land of the Bargarh Sugar factory to IDCO for future industrial development. This transfer will occur in two phases. Notably, the sugar factory’s operations ceased due to various issues such as insufficient funds for machinery repair, renovation, and maintenance, leading to its liquidation.

The factory encompasses a total of 103.21 Acres of land. In the initial phase, IDCO will acquire 72.12 Acres of encroachment-free land at benchmark valuation. The remaining land will be transferred to IDCO once it is free from any legal disputes and encroachments. Subsequently, the entire plot will be utilized for industrial purposes by IDCO.

In exchange for the transfer of ownership of the encroachment-free 72.12 Acres, IDCO has paid Rs 40.68 Crore to the ADM cum liquidator of Bargarh Co-operative Sugar Mills.

Exit mobile version