JK Papers to set up a new unit in Gujarat
08 July 2019
JK Papers Ltd said that it will set up a new manufacturing plant in Gujarat at an investment of Rs 1,500 crore.
A memorandum of understanding (MoU) has been signed with the Gujarat government to set up the new plant that will have an annual capacity of three lakh tons annually at a cost of Rs 1,500 crore, JK Papers Ltd said in a statement.
The agreement would facilitate the expansion of JK Papers' Songadh unit in Tapi district. The Songadh unit will witness an increase in pulp processing capacity from 60,000 TPA (tonne per annum) to 1,60,000 TPA and packaging board from 1,00,800 TPA to 3,00,800 TPA.
The plant will focus on producing multi-layer coated board paper and will produce some paper for the first time in India, it said, adding that the full expansion of the plant is expected to be completed by December next year.
JK Paper, during the last fiscal, completed the acquisition of Sirpur Paper which had started production this year taking the capacity of JK Paper to about six lakh tonne per annum (LTPA) from 4.55 LTPA.
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