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RIL, HPCL to run sick Bihar sugar mills
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Saturday, 12 January, 2008, 08 : 00 AM [IST]
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nt Hindustan Petroleum Corporation Ltd (HPCL), besides Rollcon and a state-based industry, were awarded financial contracts for the revival of six of the 13 state-run sick sugar mills in Bihar. Sugarcane Development Minister Nitish Mishra said these companies emerged successful financial bidders for acquiring the assets of these mills on a long-term lease of 60 years. While RIL won the bid for the revival of Motipur sugar mill, HPCL got the contracts for Sagauli, Hathua and Lauria. New Delhi-based Rollcon projects won the bid for a fifth closed mill at Lohat, while S S Infrastructure, Darbhanga, got a mill at Rayani.
The Bihar government had invited bids in November for 15 sugar mills that had been closed. It received 27 valid bids for 12 mills. Of the closed mills, six mills were marked for sugarcane-based industries. The successful execution of these deals would cumulatively fetch the government approximately Rs 300 crore. The money would be utilised to settle the dues of the workers, financing of their VRS/exit schemes and for meeting their statutory liabilities.
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