UP govt floats global tender for privatisation of mills

Lucknow, Jul 19: After inviting bids for privatisation of 31 mills of the Uttar Pradesh Sugar Corporation, the state government has now floated a global tender to invite advisor for commencing the privatisation process of 25 mills of the Cooperative sector.

Registrar of Cane Cooperative Societies has invited bid for the appointment of advisor for transfer of assets and liabilities of the sugar mills.

The tender, which was published in the local dailies today, said that Request for Qualification (RFQ)-cum-Request for Proposal (RFP) have been invited from advisors having experience of handling at least one complete assignment of the transfer of assests or assets and liability of the Government of India or any state government or any cooperative Industrial unit.

The last date of submission of the bid by the advisors has been fixed on August 8 after which process for evaluation the value of the 25 mills would be made and then again bid would be invited from the industrial house for the privatisation.

Yesterday, five companies -- U Flex Noida, Era Landmark Industries Ltd, Chadda Sugar, Gamon India and Dalmia Sugar -- had submitted their bids for 31 ailing mills of the Sugar Corporation.

In the bidding for the 31 mills of the corporation, the state government had fixed terms and conditions that the company competiting in the bid should have a net worth of at least Rs 600 crore, minimum turnover of Rs 500 crore and must have posted cash profit for at least three financial years in the last five financial years.

Besides, interested firms will have to bid for the entire equity of the corporation sugar mills.

UNI