Maharashtra extends guarantees loans worth Rs 28 crore to two sugar mills

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Mumbai: Maharashtra government has guaranteed loans worth Rs 28 crore to two sugar mills. 

According to the news report published in The Times of India, the mills are identified as Rajgad cooperative sugar mill in Pune and Sahkar Shiromani Vasantrao Kale sugar mill in Pandharpur. The government has guaranteed loans worth Rs 10 crore and Rs 18 crore to these mills respectively. The guarantee has been extended only for the period of one year.

A senior official told The Times of India, “Pre-seasonal loan guarantees were extended keeping in mind that other factories in Pandharpur have not performed well and the one in Pune is in a location which is quite far from other factories.”

Sugar mills in Maharashtra will commence the crushing season from October 15. 

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