HPCL all set to Open Sugar Industries in Bihar

After months of waiting, the Bihar government at a simple function on Sunday, signed a memorandum of understanding with the Hindustan Petroleum Corporation Limited (HPCL) and Bihar State Sugar Corporation Limited (BSSCL) to reopen two sugar mills in Sugauli and Lauriya in East and West Champaran districts.

Calling it a historic move that is certain to get things rolling in Bihar, HPCL Chief Managing Director Arun Balakrishnan said the factory, besides producing sugar, will also expand its operation in the field of ethanol and distillery that would prove to be a financial boon for the state.

Besides investing Rs. 600 crore in bringing the two sick sugar industries alive, the HPCL will invest Rs. 1,000 crore on various projects in Bihar including a Rs. 250 crore oil terminal in Bihta, Balakrishnan said.

The two mills are expected to start producing results within two years.

A visibly ecstatic Chief Minister Nitish Kumar said that with the finalization of the deal with the HPCL, the gate of industrial revolution in Bihar had finally opened that would attract more investment in the state.

He also said the government would move fast in providing 50 acre of land to the HPCL to open oil terminal in Bihta.

Balakrishnan handed over two checks to the Chief Minister drawn for the amount of Rs. 20 crore and Rs. 18 crore for the revival of the two mills in Sugauli and Lauria respectively.

Union Petroleum Secretary R. S. Pandey, Janata Dal (U) MP N. K. Singh, chief secretary of the Sugarcane department Anil Kumar, Sugar Corporation managing director Kamleshwar Prasad Singh, HPCL general manager Y. K. Gawli, state Sugarcane Minister Gautam Singh, and Industry Minister Dinesh Chandra Yadav were also present on the occasion.