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Thursday, Jun 20, 2002

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AP cabinet nod for sale of more co-op mills

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THE Cabinet Sub-committee has approved the sale of seven co-operative mills identified for privatisation in the second phase of public enterprise reforms in Andhra Pradesh, while deciding to re-advertise sale of the Mombojipally distillery of Nizam Sugars Ltd, as McDowell & Co has backed out.

Seven units proposed to be taken up for sale are NVR Co-operative Sugar Mill, located at Jampani in Guntur district with a capacity of 1,300 tonnes crushed per day, Amadalavalasa in Srikakulam district (1,900 tcd), Sri Venkateswara co-operative sugar mill in Renigunta, Chittoor district (1,600 tcd), Anakapalle co-operative sugar mill, Visakhapatnam district (1,000 tcd), Nizamabad co-operative sugar mill (1,250 tcd) and Palair co-operative sugar mill, Khammam district (1,250 tcd).

It is now proposed to go in for a nation-wide advertisement inviting bids for these co-operative sugar mills. The last date of receipt of bids is planned to be fixed for July 15.

At the Cabinet sub-committee meeting, it was decided to re-advertise proposal for the Mombojipally distillery of the Nizam Sugars Ltd. This was necessitated as the earlier preferred bidder, McDowell and Co., withdrew their offer.

The Implementation Secretariat, the independent body overseeing the privatisation process in Andhra Pradesh, is now set to come out with fresh advertisement in July and plans to complete the formalities by August.

The ongoing reform process has entered the second phase and the Government has decided to cover more units under this phase.

Several units have already been sold and possession handed over to respective successful private bidders. During the second phase, more co-operative units are set for privatisation.

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