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| TN Newsprint to invest Rs 1000 cr |
| TE Narasimhan / Chennai Apr 27, 2009, 00:47 IST |
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Tamil Nadu Newsprint and Papers Ltd (TNPL) has embarked upon a Rs 1,000-crore expansion plan with an aim to capture 12-13 per cent pie of the printing and writing paper market by 2011-12.
The proposed investment includes setting up a Rs 60 crore cement plant and increasing pulp production to 840 tonnes a day from 720 tonnes a day at an investment of Rs 100 crore, said A Velliangiri, deputy managing director, TNPL.
The company currently has a capacity of 245,000 tonne per annum, which it plans to increase to 400,000 tpa by June 2010. It is installing a new machine, imported from Germany, at its Kagithapuram plant in Karur district of the state at a cost of Rs 400 crore. The new machine will have a capacity of 155,000 tpa.
A new boiler with a capacity of 120 tonne per hour will also be installed for energy augmentation. Both pulp and energy augmentation will commence by March 2010.
The new facility at Kagithapuram will convert the waste, including lime sludge and fly ash, coming out from paper production to cement. “We are waiting for environmental clearance for the project.”
The current size of the industry, including newsprint, is 8 million tonne, of which printing and writing paper is around 3 million tonne.
Speaking about the financial performance, Velliangiri said the company was likely to report a 13 per cent growth in sales for the year ended March 31, 2009. TNPL is yet to release its 2008-09 result.
The company recently received the Indian Institute of Materials Management’s award for better inventory controlling.
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