Bhubaneswar: In a major decision, the Odisha Government has decided to transfer the land of Bargarh Sugar factory to IDCO for setting up industries in the future.
Official sources here on Friday said the IDCO will purchase the land in two phases.
The crushing operation in the Bargarh Sugar factory could not be carried out for various reasons such as a shortage of funds for repair, renovation, and maintenance of machinery leading to liquidation
The factory has a total of 103.21 Acres of land. Out of which, IDCO will purchase encroachment-free land of 72.12 Acres at a bench-mark valuation in the first phase.
The remaining land will be handed over to IDCO after it is free from all litigation and encroachment.
The whole patch of land acquired by the IDCO will be used for industrial purposes.
IDCO has paid Rs 40.68 crore to ADM cum liquidator of Bargarh Co-operative Sugar mills for transferring the ownership of the encroachment-free land measuring 72.12 Acres in its favour.
UNI