_________News Media NSEMUMBAIBULL_________30th March 2008_______
Punjab-based ABC Paper on Saturday said it is planning to set up a new agro-based paper manufacturing facility either in Maharashtra or in Madhya Pradesh with an estimated investment of Rs 800-1,000 crore.
"We are looking to establish a new facility in Maharashtra or in Madhya Pradesh as part of our capacity expansion programme and we are still in the process of identifying a suitable location in terms of raw material availability for the plant," ABC Paper Managing Director Pavan Khaitan told reporters here on Saturday.
Expected to be commissioned by 2010, the plant would have manufacturing capacity of 500 tons per day.
The company is also planning to ramp up its capacity at Hoshiarpur plant for which it has earmarked Rs 180 crore.
"We will double our production capacity to 1.20 lakh tons per annum under our current expansion programme, which will be completed by March 2009," he said.
The company is expecting a turnover of Rs 350 crore in FY'09 after the completion of expansion at Hoshiarpur, as against Rs 200-crore turnover in 2007-08.
As a part of its measures to bring operational efficiency, the company is also contemplating of using recycled paper as input for production.
Against just 8 per cent use of recycled paper by the industry in India, paper sector in the US uses almost 40 per cent of waste paper in production.