Ailing sugar co-ops in AP get Rs 270 cr from Centre

Economy Bureau
Posted: 2007-10-09 00:00:00+05:30 IST
Updated: Oct 09, 2007 at 0318 hrs IST

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Hyderabad, Oct 8: With a view to modernizing the ailing co-operative sugar units in the state, the Union government has sanctioned Rs 270 crore, according to industry and sugar minister Geetha Reddy.

Speaking to media after a review, the minister said that the amount was sanctioned favouring five sugar units including Chodavara and Thandava Units in Vishakapatnam district, Ventateswara Sugars in Chitoor district, Vijayarama Gajapathi Cooperative in Vijayanagaram district and Cooperative Sugar Factory in Kovuru. The amount will also be used in setting up a plant for cogeneration of power by the sugar cooperatives, she added.

The state government has also sanctioned Rs 196 crore towards working capital needs of 11 other sugar co-operatives, which are being revived by the government since last three years. The amount will be paid through the AP Cooperative Bank, she added.

The government has also decided to repay the purchase tax being collected on sugarcane, which is about Rs 90 crore. The decision would benefit the sugarcane farmers in the state, she said.

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Ailing sugar co-ops in AP get Rs 270 cr from Centre

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