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Udupi: Brahamavar Sugar Factory Leased Out for Thirty Years

  •   Sat, Apr 05 2008 10:11:33 AM

Daijiworld Media Network – Udupi (KM)
Pics: Hemanath Padubidri

Udupi, Apr 5: The Brahmavar Cooperative Sugar Factory has been leased out to RAMEE Sugar and Infrastructure, Mumbai for the next thirty years, sources confirmed here on Friday April 4.

Under the terms of lease, the managing committee of RAMEE should start crushing sugarcane by 2010. The factory has to crush 1250 tones of sugarcane per day and 2.25 lacs tones sugarcane per year.

The Brahamavar cooperative sugar factory is leased out on conditions such as seeds of sugarcane must be distributed to sugarcane growers of the vicinity in order to ensure that the interests of the growers are protected, the sources informed.

It is the ninth cooperative sugar factory being leased out to a private company in the state. The factory is leased out for Rs 31.68 crore. The lease expires in the year 2037-38 and subsequently the factory has to be returned in working condition.

RAMEE will establish distillery, power generation and other by-products of sugarcane at the site of the factory. The factory is a sick industry at present, source added.
  

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Comment on this article

  • ramchandra naik, bhahamavar

    Sat, Apr 24 2010

    It is really a good news that the factory will restart the crushing for the year 2010-2011, which will help the local farmers but since the factory is closed for more then 5 years most of the machinery must have become unusable, lot of money has to be invested by the ramee group in order to the run the factory economically. The govt of karnataka must help the ramee group by providing financial aid at economical rate of interest for modernisation of the said factory.

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