Karnataka-based Nirani Sugars Limited has acquired the historic Riga Sugar Company Limited, marking the end of a prolonged period of closure for the mill. The acquisition includes a sugar plant with a crushing capacity of 5,000 Tons of Cane per Day (TCD), a distillery with a capacity of 45 Kilo Liters per Day (KLPD), and a co-generation power plant with a capacity of 11 MW.
The deal was finalized following an e-auction where the reserve price was set at Rs 86.50 crore, a figure significantly lower than previous attempts to sell the mill. A public notice regarding the auction was issued by Neeraj Jain, the liquidator of Riga Sugar Company Limited.
Prior to the acquisition, a team from Nirani Sugars conducted a comprehensive inspection of the Riga sugar mill. During the visit, they held discussions with local staff and technical experts to assess the operational aspects and future potential of the facility.
Nirani Sugars Limited is a leading player in India’s agro-commodity sector, known for its extensive sugar manufacturing operations. The acquisition of Riga Sugar Mill aligns with the company’s long-term strategy to expand its footprint in the agro-industrial sector. It also underscores Nirani Sugars’ commitment to fostering sustainable and diversified growth, promoting a circular economy that benefits farmers, and contributing to the development of rural communities.
This move not only strengthens Nirani Sugars’ position in the Indian sugar industry but also aims to preserve the legacy of one of India’s most historic sugar mills, supporting the broader goals of rural development and agro-industrial sustainability. The acquisition is expected to revitalize the mill’s operations and bring renewed economic opportunities to the region, benefiting local farmers and the broader community.
Through this acquisition, Nirani Sugars reinforces its dedication to the heritage of India’s sugar industry while driving forward its vision of a sustainable and prosperous agro-industrial future.
