This move is aimed at ushering in operational efficiency, improve production, reduce non-performing assets (NPAs) and mitigate non-productive overheads running into several crores of rupees annually.
In this regard, the government has invited request for qualification (RFQ)-cum-request for proposal (RFP) from advisors for transferring the assets and liabilities of 25 of the 28 cooperative sugar mills in the state. Most of these low-capacity mills are in rural areas and are running losses.
The 33 state sugar corporation mills have already been put on the block and a high-level committee is evaluating the expressions of interest submitted by five companies