Whitefield plans to invest Rs 1200 cr in new AP project

Posted: Tuesday, Mar 28, 2006 at 0415 hrs IST
Updated: Tuesday, Mar 28, 2006 at 0415 hrs IST

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Hyderabad, March 27: Whitefield Paper Mills Ltd (WPML) has proposed to set up a two lakh million tonne capacity paper manufacturing unit in the state.

Speaking to the media here on Monday, WPML chairman T Srinivasa Rao said that the company is setting up the plant in Bayyavaram village in west Godavari district, with an estimated investment of Rs 1,200 crore.

"We propose to commence commercial production by December 2008," Mr Rao said.

The company has already signed a technical and pulp supply agreement with a Swiss company, Elof Hansson group. "We have entered into a long term supply contract with Elof Hansson. The company is also interested in participating in the equity," Mr Rao said.

WPML has signed an MoU with the Andhra Pradesh government for providing 500 acres of land in the Bayyavaram village. "We have already identified about 250 acres of the government land in the village," said Suthirtha Bhattacharya, commissioner of industries. Further, the company is also planning to set up a ‘special economic zone’.

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