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Mumbai:
GMR Industries has successfully bid for taking on lease
the partly completed sugar factory of Sri Dhanalaxmi Sahakari
Sakkare Karkhane Niyamit in Belgaum, Kaarnataka on build-own-operate-and-transfer
(BOOT) basis for a period of 25 years, the company said
in filing with the Bombay Stock Exchange (BSE).
The
lease agreement was entered into after the Karnataka high
court upheld the grant of lease in favour of the company
and dismissed a writ petition and writ appeals against
it.
The
sugar factory with a capacity of 2,500 tonnes per day
and a cogen plant is in partially completed stage (i.e.
80 per cent completed). GMR Industries will complete the
balance work of supply and erection and expects to commence
crushing operations during 2008-09 sugar season.
The
plant capacity will be expanded from 2,500 tpd to 4,000
tpd and the cogen capacity shall be expanded in a phased
manner, GMR said in its communique to the BSE.
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