Published On:January 9 2009
Story Viewed 2633 Times
Punjab to sign MoU with nine private companies
Jalandhar: The Punjab government would soon sign a memorandum of understanding (MoU) with nine private companies for power generation from state-run sugar mills.
Gurgaon-based A2Z Infrastructure would take over the sugar mills at Nakodar, Fazilka and Morinda, which were incurring huge losses, state Cooperation Minister Captain Kanwaljit Singh said.
The company will invest Rs 80 crore each in the mills at Nakodar and Morinda where it intends to generate 20 Mw each and another Rs 100 crore in Morinda where it expects to produce 25 Mw. In three cases, the company will operate the mills for 15 years, the minister said.
Another New Delhi-based company, Saraya Industries, would take over mills at Nawanshahr, Batala, Ajnala and Gurdaspur, sources said adding that the mills at Gurdaspur had registered losses beyond Rs 30 crore each. The company will invest Rs 135 crore to run these mills to produce 12 Mw from each of them.
This apart, Mohali-based Spare Industrial Devisors would run the Bhogpur sugar mill for 19 years. The company will invest Rs 185 crore in the mill which has been recording losses of over Rs 20 crore. The capacity of the mill is a little over 1,000 tonnes, but the company intends to increase it to over 5,500 tonne will produce 18 Mw.
The Budewal sugar mill, which registered a profit of over Rs 2 crore, would be handed over to Purab Infrastructure, an Amritsar-based company, for 15 years. The company will pump in Rs 80 crore and intends to generate 20 Mw, Kanwaljit Singh added.
The minister said the MoU with these companies would be signed on January 12. “Nine out of the 15 sugar mills in the state will be functional soon,” he added.