Hyderabad: The state government has disbursed Rs 43 crore as a one-time settlement to facilitate the reopening of shuttered sugar mills across the region, reported The New Indian Express.
News reports indicate that the government engaged in talks with banking institutions to settle outstanding debts owed by these sugar mills, reaching an agreement with the bankers. Consequently, the government decided to clear the dues, marking its efforts over the past four months to revive these closed factories.
Under the leadership of Industries Minister D Sridhar Babu, the Congress government established a cabinet sub-committee to explore reopening opportunities for Nizam sugar factories located in Bodhan and Muthyampet. This committee engaged in extensive discussions with banking representatives. Chief Minister Revanth Reddy had previously pledged that the sugar factories would resume operations by September 17th.
