Maharashtra’s five cooperative sugar mills may soon receive over Rs 1,263 crore in NCDC loans
Maharashtra’s cooperative sugar sector is set for potential financial relief as loan proposals exceeding Rs 1,263 crore for five sugar mills advance toward NCDC approval. The funding will support capital investments, working capital, farmer cane payments, liquidity improvement, operational efficiency, and enhanced production capacity.
Pune: Maharashtra’s cooperative sugar sector could soon receive financial relief as loan proposals worth more than Rs 1,263 crore for five cooperative sugar mills are moving towards approval through the National Cooperative Development Corporation (NCDC).
The proposed funding is expected to support capital investment and working capital requirements of mills facing financial constraints and strengthen their operational capacity.
The process gained momentum after the state government accelerated follow-up action on pending proposals. Sugar Commissioner Dr. Sanjay Kolte has submitted a compliance report to the Principal Secretary of the Cooperation Department addressing deficiencies identified in the applications.
Among the major proposals, Rajgad Cooperative Sugar Mill at Bhor in Pune district is expected to receive Rs 447.85 crore. Another proposal under consideration is Rs 361.41 crore for Shri Chhatrapati Cooperative Sugar Mill in Indapur.
Raosaheb Pawar Ghodganga Cooperative Sugar Mill in Shirur has sought financial support of Rs 184.92 crore, while Karmayogi Kundalikrao Jagtap Patil Kukadi Cooperative Sugar Mill is likely to receive Rs 49.85 crore.
In addition, a proposal seeking Rs 199.14 crore for Shri Siddheshwar Cooperative Sugar Mill in Solapur has also progressed in the approval process.
According to Yashwant Giri, Sugar Director (Finance) at the Pune Sugar Commissionerate, five of the seven proposals submitted by the state government have completed the required documentation and clarifications.
The compliance reports have been forwarded to the state government, which will now submit the proposals to NCDC for final approval.
Once sanctioned, the financial assistance is expected to improve liquidity at the mills, support sugarcane payments to farmers, strengthen mill operations and help enhance production capacity across the cooperative sugar sector.
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Source : ChiniMandi
