Bharat Gold Mines, Where Blockbuster Movie KGF 2 Was Shot, to Be Closed, Decides Cabinet

The Federal Cabinet has decided to shut down Bharat Gold Mining Limited (BGML), CNBC TV-18 has learned from sources. Bharat Gold Mines Limited (BGML), a former public sector company, was incorporated in April 1972 under the management control of the Mining Division and its office at the KGF. The place is strategically located at 90 km from Bengaluru Airport, 260 km from Chennai Port, and 314 km from Krishnapatnam Port. BGML, which used to operate the KGF and closed in 2001, owns about 12,000 acres of land.

The Cabinet had taken a decision in 2006 to dispose of the assets through a global tender with first pre-emption for the benefit of the community of ex-employees. Because of the passage of time, many changes took place, various issues emerged, and the decision of the Council of Ministers was not implemented.

Earlier this year, the Federal Cabinet approved the creation of a new government-owned company to pool and invest sovereign land and public sector assets. The main objective of the NLMC was to monetize surplus land and construction assets for central public sector enterprises (CPSEs) as well as government agencies. The company assists in monetizing the assets of public sector companies that are closed or lined up for strategic sale.

Read all the latest news, breaking news and live updates for IPL 2022 here.

Leave a Comment