Hyderabad: The state government is taking steps to revive the historic Nizam Sugars Ltd. Established in 1937 by the seventh and last Nizam, the factory was once a pillar of the sugar industry in India but ceased operations in 2015-16, reports Times of India.
Telangana Deputy Chief Minister Bhatti Vikramarka Mallu on Thursday announced the revival of the sugar mill. He made the statement while presenting the state budget for 2024-25.
Mallu highlighted that previous attempts to revive the factory had seen no success. However, his government took a decisive step by appointing a committee for NSL’s restoration in January 2024. The industries department is now working on a comprehensive revival plan, which includes bringing on board a new equity partner.
Chief Minister A Revanth Reddy recently assured farmers that the government would ensure the factory becomes operational by September 17 this year. In a bid to facilitate the revival, the Telangana government has also released a one-time payment of ₹43 crore as compensation to bankers.
