Latest Trending News

Odisha Govt Decides to Transfer Bargarh Sugar Factory land to IDCO

Bhubaneswar: In a move to foster industrial growth in the Bargarh region, the State Government has announced the transfer of land belonging to the Bargarh Sugar Factory to the Industrial Development Corporation of Odisha (IDCO) for future industrial ventures. The decision comes as part of efforts to utilize the resources of the defunct sugar factory for productive purposes.

The Bargarh Sugar Factory, which has been facing operational challenges, including financial constraints and machinery maintenance issues, will undergo liquidation, paving the way for the transfer of its land to IDCO. With a total land area of 103.21 acres, the factory’s land will be acquired by IDCO in two phases.

In the first phase, IDCO will purchase 72.12 acres of encroachment-free land at a benchmark valuation. This initial acquisition will provide IDCO with a substantial parcel of land to kickstart industrial development initiatives in the area. The transaction, facilitated by IDCO, involves the payment of Rs 40.68 Crore to the Administrator cum Liquidator of Bargarh Co-operative Sugar Mills.

The remaining portion of the factory’s land will be transferred to IDCO once it is cleared of all legal encumbrances and litigations. Upon completion of this process, the entire land parcel will be earmarked for industrial purposes under the jurisdiction of IDCO.

This strategic decision underscores the state government’s commitment to leveraging existing resources for economic growth and job creation. By repurposing the land of the Bargarh Sugar Factory for industrial development, the government aims to attract investment, stimulate entrepreneurship, and propel the region towards prosperity.

The transfer of land from the defunct sugar factory to IDCO marks a crucial step towards revitalizing the industrial landscape of Bargarh and surrounding areas. It is anticipated that the development of industrial infrastructure on this land will unlock new opportunities for business expansion and contribute to the overall socio-economic development of the region.

For further details, interested parties can contact the Industrial Development Corporation of Odisha (IDCO) for updates on the progress of the land acquisition process and future industrial projects planned for the area.

Comments are closed.