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State govt exploring options to revive iconic Mysore Paper Mills

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Mysuru: The now-defunct Mysore Paper Mills in Bhadravathi may soon get a new lease of life as the State government is looking for possibilities to infuse life into the iconic industry.

Industries Minister M B Patil chaired a high-level meeting in Bengaluru on Thursday which was attended by Bhadravathi MLA B K Sangamesh.

Set up by the erstwhile Mysore King, Nalwadi Krishnaraja Wadiyar in 1936 stopped functioning in 2015. It is estimated that the standing loss of Mills is at Rs 1,482 cr besides electricity bills pending to the tune of Rs 229 cr.

Minister Patil has directed Chief Secretary Vanditha Sharma to schedule a meeting to evolve solutions to revive the Mills. It is said that the government is exploring the option of privatising the state-run factory to bring it back to life.

According to the minister, the State government had extended Rs 850 cr to the Mills as loan in 2010 but nothing much has been done to revive it.

-Team Mysoorunews

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