The Riga sugar mill, one of India’s most historic sugar mills, has found a new owner after many years of closure. Karnataka-based Nirani Sugars Limited has successfully acquired the Riga Sugar Company Limited.
The acquired facilities include a sugar Plant with a crushing capacity of 5,000 TCD (Tons of Cane per Day), distillery capacity of 45 KLPD (Kilo Liters per Day) and a Co-Generation Power Plant of 11 MW.
This time, the e-auction reserve price was reduced to Rs 86.50 crore. A public notice regarding this was issued by Neeraj Jain, Liquidator of Riga Sugar Company Limited.
Recently, a team from Nirani Sugars carried out a detailed inspection of the Riga sugar mill. The team also engaged in discussions with local staff and technical experts.
Nirani Sugars has been a prominent player in one of the largest agro-commodity businesses in India through its sugar manufacturing operations. It is one of the top players in the Indian sugar industry.
This acquisition supports Nirani Sugars Limited’s long-term strategy to enhance its presence in the agro-industrial sector, encourage sustainable and diversified growth, and promote a circular economy that benefits farmers and aids in the development of rural communities, all while preserving the heritage of India’s sugar industry.
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