Co-op sugar factories to generate 1,200 MW electricity: Kadam

Ahmednagar, Apr 7 (UNI) As many as 55 co-operative sugar factories of Maharashtra have been given permission for electricity generation and they are likely to produce about 1,200 MW electricity in the next three years, state Co-operation Minister Patangrao Kadam said today.

Mr Kadam was speaking at a press conference, organised at Kopargaon tehsil of the district.

''For this electricity generation scheme, the National Co-operative Bank is likely to contribute 40 per cent of the investment, the state government is likely to put in 50 per cent of the investment, the co-operative sugar factories will make a contribution of five per cent and the remaining five per cent will be taken from co-operative bonds,'' Mr Kadam stated.

Mr Kadam also stated that agricultural loans taken by the farmers from commercial and co-operative society banks will be waive.

The Centre will soon provide an amount of Rs 12,000 crore for the revival of District Co-operative Bank, District land Mortgage Bank, Urban Bank, Co-operative Credit Society, Co-operative Village Society and Commercial Co-operative Bank, he added.

UNI XR SR SP HT1715