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KCP Sugars has said that sugar factories in Andhra Pradesh are on the verge of closure due to levy of high Value Added Tax, export fee on molasses and ban on inter-State export of alcohol for distillation.
A KCP Sugars team, led by its Chief Executive Officer G Venkateswara Rao, met Andhra Pradesh Chief Minister N Chandrababu Naidu here on Tuesday to discuss the challenges faced by the industry.
“The price of cogeneration of sugarcane is at ₹3-3.5 per unit whereas the price in other States is in the range of ₹5-6,” the CEO said.
An official press release said the Chief Minister assured the delegation that the Government would look into the issues raised by it.
The company handed over a cheque for ₹1 crore, contributed by farmers, workers and management, for the development of the State’s capital.
The company agreed to set up 500 solar pump sets in the district.
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