Business Daily from THE HINDU group of publications
Wednesday, Aug 22, 2007
ePaper
Business Daily from THE HINDU group of publications Wednesday, Aug 22, 2007 ePaper |
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Agri-Biz & Commodities
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Sugar Government - Agricultural Policy States - Andhra Pradesh AP Cabinet clears way for sugar cos revamp
The modernisation and expansion plan is being taken up as per the feasibility report prepared by the National Federation of Cooperative Sugar Factories.
Our Bureau Hyderabad, Aug. 21 The Andhra Pradesh Cabinet has cleared the way for modernisation and expansion of seven cooperative sugar factories at an estimated cost of Rs 267 crore. The Cabinet, which met here on Tuesday, has decided to turn the Rs 79-crore loan given to five of the seven factories and the tax dues of the factories into equity. Addressing a press conference, Mr Anam Rama Narayana Reddy, Minister for Information and Public Relations, said the move would help these factories turn their net worth positive, making them eligible for financial assistance from sugar development funds. The first phase of revamp would cover Chodavaram, Vijayarama Gajapathi, Thandava, Kovur, Sri Venkateswara, Chittoor and Anakapalle factories. The modernisation and expansion plan is being taken up as per the feasibility report prepared by the Delhi-based National Federation of Cooperative Sugar Factories, the Minister said. Post expansion, the total capacity of these factories would go up to 18,900 tonnes crushed a day (TCD) from the present 13,450 TCD. Besides, the co-generation too would reach 58.65 MW from 6.15 MW. Food processing
Meanwhile, the Chief Minister, Dr Y.S. Rajasekhara Reddy, has asked the officials to see whether it was possible to create a separate department for food processing industry. “The idea is to focus on this segment, keeping in mind the agrarian base of the State,” he said. Stating that the sector held great promise, he said that in the last three years, investments to the tune of Rs 490 crore were made in setting up 66 large and medium units. During the same period, as many as 884 small-scale units were set up with a total investment of Rs 326 crore. Rural roads
The Government will develop roads in five districts (Kadapa, Krishna, Mahaboobnagar, Anantapur and Nellore) with an outlay of Rs 969 crore, which included a contribution of Rs 727 crore from the World Bank.
More Stories on : Sugar | Agricultural Policy | Co-operatives | Andhra Pradesh
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