The Hindu Business Line : Tummapala sugar factory to resume crushing

TUMMAPALA co-operative sugar factory at Anakapalle in Visakhapatnam is set to resume crushing after a lapse of two years,from December 29, according to Mr K. Ramakrishna, the Commercial Taxes Minister.

Mr Ramakrishna elected from Anakapalle Assembly constituency, had promised during the elections that he would get the factory back on track, if voted to power.

The erstwhile Telugu DesamGovernment had, it may be noted, called for bids to privatise the sick co-operative sugar factory and the highest bid received was worth Rs 5 crore. However, the then Chairman, Mr D. Dilip Kumar, had moved the Andhra Pradesh High Court contending that the factory should not be privatised without paying back the shareholders (farmers) and that it was improper to sell away a factory worth Rs 20 crore for a mere Rs 5 crore.

Upholding the plea, the High Court had stayed the privatisation of the factory, but during the two subsequent seasons no crushing could be taken up.

Mr Ramakrishna said the factory had been granted Rs 12.5 crore as working capital.

More Stories on : Sugar | Co-operatives | Andhra Pradesh

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