Financial Daily from THE HINDU group of publications
Wednesday, Jul 17, 2002
Financial Daily from THE HINDU group of publications Wednesday, Jul 17, 2002 |
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Industry & Economy
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Disinvestment Venkateswara mill gets highest number of bids Our Bureau
HYDERABAD, July 16 VENKATESWARA Co-operative Sugars Ltd, Renigunta, with six bids has emerged as the most sought after among the seven co-operative sugar mills up for sale in the State. NVR Co-operative Sugars in Jampani in Guntur district attracted five out of a total of 21 bidders. At the close of the deadline on Monday, the Implementation Secretariat (IS), an autonomous body of the State Government, received 21 bids from industrial units such as Madhucon Projects, VBC Ferro Alloys, NCS Estates, Krebs Biochem, NVR Co-operative Sugars, KCP, Empee Holdings, Ryuthu Raja Sugars, Jeevaka Industries and Sudhalgunta Hotels. The Anakapalle unit received three bids, while the units at Chittoor, Palair and Nizamabad received two bids each. The Amadalavalasa unit received a solitary bid - - from Bharat Alloys & Energy Ltd, according to a release from the IS which is pursuing the reforms process in the State. Krebs Biochem and NCS Estates have put in bids for two units each - - Venkateswara Co-operative Sugars and NVR Co-operative Sugars. Similarly, VBC Ferro Alloys and associates have bid for two units at Anakapalle and Amadalavalasa, while Srinivasa Distilleries and associates have bid for Venkateswara Co-operative Sugars and Chittoor Co-operative Sugars respectively. The IS has, so far, succeeded in privatising a distillery at Chagallu and two co-operative sugar mills at Hanuman Junction and Palakole. Even the preferred bidders in the case of the sugar mills at Latchayyapeta and Madhunagar of the Nizam Sugars Ltd have been finalised. Additionally, asset transfer of two co-operative sugar units at Gurazala and Nandyal was expected to be completed shortly, the release said.
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