Bhubaneshwar: The Odisha government has announced its decision to transfer the land of the Bargarh Sugar factory to the Odisha Industrial Infrastructure Development Corporation (IDCO) for potential industrial development, as confirmed by an official at the Chief Minister’s Office on Friday, reported PTI.
According to the official, the state-owned IDCO will acquire the land in two phases. The decision to liquidate the factory comes in light of operational challenges, including insufficient funds for machinery repair, renovation, and maintenance, resulting in the cessation of crushing operations at the Bargarh sugar factory.
The factory, encompassing a total of 103.21 acres of land, will see IDCO acquiring 72.12 acres of encroachment-free land at a benchmark valuation in the initial phase, as per the official’s statement. The remaining portion of the land will be transferred to IDCO once it is cleared of all legal disputes and encroachments, facilitating its full utilization for industrial purposes.
In a concurrent development, IDCO has disbursed Rs 40.68 crore to the ADM-cum liquidator of Bargarh Co-operative Sugar Mills for the transfer of ownership of the encroachment-free land, signaling progress in the transition process.
