The Hindu : Andhra Pradesh News : Chittoor Coop Sugar Factory incurs 61 crore loss

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Wednesday, Dec 01, 2010
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Andhra Pradesh

Andhra Pradesh

Chittoor Coop Sugar Factory incurs 61 crore loss

CHITTOOR: Several members in the general body meeting of Chittoor Cooperative Sugar Factory held here on Tuesday demanded the authorities to pay Rs.2500 for every ton of cane supplied to the factory for crushing during the crushing season of 2010-2011. District Collector presided over the meeting.

MD Bhaskar Reddy read the annual report of the factory for the year 2009-2010. Besides, he said that it was proposed to crush 1.75 lakh tons of cane during this season. A resolution with the request of the members was passed for felicitating N. Kiran Kumar Reddy for becoming Chief Minister of AP from the district.

The members also urged the person in-charge to consult the government about the Rs.37 crore paid to farmers as incentive by taking loan from the government. Member Raja Ratnam Reddy alleged that several irregularities were committed in the factory and as a result loss was occurred.

Enquiry

He has asked the Collector to institute an enquiry with an IAS officer to find out the truth.

The Collector and person in-charge V. Seshadri told that remunerative price per ton of cane supplied to the factory would be announced before the commencement of crushing.

Further he said that the factory was running on a loss of Rs.61 crore and urged the members to recognise it and demand the payment for cane in such a way to save the factory from loss.

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Andhra Pradesh