Lease period is 30 years from April 2007
RSIPL to grow sugarcane seeds on 1,000-acre plot
Crushing of sugarcane to be restarted in 2010-11
Brahmavar (Udupi district): Chairman of Dakshina Kannada Sahakari Sakkare Karkhane (DKSSK) M. Jayasheela Shetty on Friday announced that the ailing sugar factory was being leased out to Ramee Sugars and Infrastructures Pvt. Ltd. (RSIPL) to rejuvenate it and help the farmers.
Director of RSIPL Santosh R. Shetty and managing director of DKSSK M. Basappa signed the lease agreement in the presence of Mr. Jayasheela Shetty, here. Addressing presspersons after the agreement, Mr. Jayasheela Shetty said the factory had been leased for Rs. 31.68 crore for 30 years with effect from April 1, 2007. As per the agreement, the RSIPL would have to give importance to sugarcane development by growing cane seeds on 1,000 acres of land and distribute them to the farmers and provide them with technical know-how on sugar cane cultivation. The crushing of sugarcane in the factory would begin from 2010-2011.
A minimum of 2.25 lakh tonnes of sugarcane should be crushed in a year which meant that the factory functioned for at least six months a year. The Ramee Sugars and Infrastructures Pvt. Ltd. could go for expansion and take up projects such as co-generation and production of ethanol and organic fertilisers.