Uttar Pradesh to privatise state-owned sugar mills

February 18th, 2008 - 6:47 pm ICT by admin  

Lucknow, Feb 18 (IANS) The Uttar Pradesh government will privatise all the 61 sugar mills it runs. The mills - 28 in the cooperative sector and 33 under the state sugar corporation - will be privatised in the next three months.

“The privatisation exercise is being undertaken in accordance with the guidelines of the union disinvestment ministry,” Archana Agrawal, secretary in the state’s department of infrastructure and disinvestments, told IANS.

A group of secretaries headed by state chief secretary has been asked to thrash out the modalities of privatisation, for which the Uttar Pradesh State Sugar Corp and Uttar Pradesh State Sugar Cooperative Federation have been appointed as the nodal agencies.

Management consultancy firm Ernst and Young has been asked to prepare a blueprint for the disinvestments.

Additionally, a Delhi-based valuation firm has been appointed to independently work out the estimated worth of each mill.

“Tenders will be invited after modalities for the disinvestments are finalised by the nodal agencies and ratified by the core committee,” said Agarwal.

Tags: , , , , , , , , , , , , , , , , , , ,

Posted in Business |