Bihar: Nirani Sugars acquires Riga sugar mill
Nirani Sugars Limited has acquired the historic Riga Sugar Company Limited, which includes a 5,000 TCD sugar plant, a 45 KLPD distillery, and an 11 MW co-generation power plant. The e-auction reserve price was Rs 86.50 crore. This acquisition supports Nirani Sugars’ strategy for sustainable growth and rural development while preserving sugar industry heritage.
The Riga sugar mill, one of India’s most historic sugar mills, has found a new owner after many years of closure. Karnataka-based Nirani Sugars Limited has successfully acquired the Riga Sugar Company Limited.
The acquired facilities include a sugar Plant with a crushing capacity of 5,000 TCD (Tons of Cane per Day), distillery capacity of 45 KLPD (Kilo Liters per Day) and a Co-Generation Power Plant of 11 MW.
This time, the e-auction reserve price was reduced to Rs 86.50 crore. A public notice regarding this was issued by Neeraj Jain, Liquidator of Riga Sugar Company Limited.
Recently, a team from Nirani Sugars carried out a detailed inspection of the Riga sugar mill. The team also engaged in discussions with local staff and technical experts.
Nirani Sugars has been a prominent player in one of the largest agro-commodity businesses in India through its sugar manufacturing operations. It is one of the top players in the Indian sugar industry.
This acquisition supports Nirani Sugars Limited’s long-term strategy to enhance its presence in the agro-industrial sector, encourage sustainable and diversified growth, and promote a circular economy that benefits farmers and aids in the development of rural communities, all while preserving the heritage of India’s sugar industry.
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Source Link : https://www.chinimandi.com/bihar-nirani-sugars-acquires-riga-sugar-mill/
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