The State Government has decided that the land of Bargarh Sugar factory will be transferred to the IDCO for setting up industries in future. The IDCO will purchase the land in two phases.
It may be mentioned that the crushing operation in the Bargarh Sugar factory could not be carried out for various reasons such as shortage of funds for repair, renovation and maintenance of the machineries. It was therefore decided to be liquidated.
The factory has a total of 103.21 acres of land. Out of this, IDCO will purchase encroachment-free land of 72.12 acres at bench-mark valuation in the first phase. The remaining land will be handed over to IDCO after it is free from all litigations and encroachment. Then, the whole patch of land will be used for industrial purpose by IDCO.
The IDCO has paid Rs 40.68 crore to the ADM-cum-Liquidator of Bargarh Cooperative Sugar Mills for transferring the ownership of the encroachment-free land measuring 72.12 acres in its favour.
