![]() Financial Daily from THE HINDU group of publications Saturday, Sep 07, 2002 |
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Industry & Economy
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Disinvestment 19 applications for AP sugar co-ops sell-off Our Bureau
HYDERABAD, Sept. 6 THE Implementation Secretariat, the independent body handling the public enterprise reform process in Andhra Pradesh, has received 19 registrations for five co-operative sugar mills that were re-advertised for sale late last month. While the Nellore-based Kovvur co-operative sugar mill received 10 registrations, Jampani mill got five Nizamabad mill two and Anakapalle and Amadalavalasa units one each respectively. In the advertisement issued on August 23, the IS had also invited bids for the distillery unit of the Nizam Sugars Ltd (NSL) at Mombojipalli for which it has received three registrations as of date. The unit had to be re-advertised as the earlier preferred bidder McDowell Ltd had backed out. The IS is in the process of arranging a pre-bid conference on September 9 at Hyderabad prior to the last date of submission of bids which has been fixed on September 11. The IS had recently identified preferred bidders for two cooperative sugar mills at Renugunta and Palair. In the case of NSL, once a preferred bidder is identified for Mombojipally distillery by the end of 2002 as scheduled, the privatisation process of its units covering five sugar mills and three distilleries, would be completed, according to an IS communiqué. The Chagallu Distillery was the first unit to be sold in April 2001 and currently preferred bidders have been identified for Madhuranagar and Latchyyapeta sugar mills. In August, the IS had entered into a joint venture agreement with Delta Paper mills for running four sugar units of NSL, a distillery and sugar mill at Shakarnagar and sugar mills at Metpalli and Mombojipalli after the Andhra Pradesh High Court had dismissed a writ petition challenging this decision.
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