Govt to hive off Bhadra Sugar factory

Horticulture and Sugar Minister S A Ravindranath said here on Saturday that of the 35 lakh tonnes of sugar produced last year, the factory has sold 10 lakh tonnes, exported five lakh tonnes and the balance stock remains unsold.

“The factory has an outstanding debt of Rs 75 crore and tenders floated to re-open the factory drew a blank on seven occasions and hence it has been decided to liquidate the ailing unit,” he said.

A team of engineers has been asked to value the assets of the factory. The auction of the assets will be taken up after the team submits its report, the minister added.

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