The State Government has finally approved financial contracts for the restoration of closed sugar mills in Bihar to six major companies in the field.
Nitish Mishra, Sugarcane Development Minister, said, “Reliance Industries Limited, HPCL, Rollon, Rollcon Projects and S S Infrastructure were awarded financial contracts for the revival of 6 sugar mills out of 13 closed mills.”

These companies emerged successful financial bidders for acquiring the assets of these mills on long-term lease, he added.

According to an official release, The Mukesh Ambani led Reliance Industries Limited (RIL) has come out as the highest bidder for the Motipur unit of Bihar State Sugar Corporation at a price of Rs 57 crore, slightly higher than the floor price of Rs 55.36 crore.

While, state-run oil company, Hindustan Petroleum Corporation Limited (HPCL) has made a bid of Rs 45 crore for the Lauriya unit in West Champaran against the floor price of Rs 29.64 crore. The firm has also made successful bid of Rs 50 crore for the Sugauli unit in East Champaran against the floor price of Rs 45.40 crore, the release added. 

New Delhi-based Rollcon Projects won the bid for a fifth closed mill at Lohat, while S S Infrastructure, Darbhanga, got a mill at Rayani.

In total, 13 non-operational Bihar state sugar corporation mills were snapped up by highest bidders on long-term lease.

Nitish Mishra further said in a statement, “The successful execution of these deals would cumulatively fetch the government about Rs 300 crore. The money would be used for settlement of the dues of labourers of these mills, financing of their VRS/exit schemes and for meeting their statutory liabilities.