Emami Paper to invest Rs 2,000 crore in Gujarat

Emami Paper Mills, part of the city-based Emami group, said Friday it would invest Rs 2,000 crore for a greenfield multi-layer packaging board plant at Bharuch in Gujarat with an initial investment of Rs 1,000 crore.

The foundation stone for the project was laid Friday by Gujarat Chief Minister Vijay Rupani.

Spread over an area of 103 acres, the plant would have a total capacity of 2.25 lakh tonne per annum (TPA) along with an 18 MW captive power plant which would entail an investment of around Rs 1,000 crore in the first phase, the company said in a statement.

In the second phase, the company will double its capacity with an equal and additional investment of Rs 1,000 crore towards installation of a new machine, it said.

"Emami Paper is the largest producer of newsprint and one of the leading producers of multi-layer packaging board in India with a total production capacity of 3.35 lakh TPA," Aditya V Agarwal, director, Emami group was quoted as saying in the statement.

In 2017-18, Emami Paper clocked a turnover of Rs 1,366 crore and Earnings Before Interest, Taxes, Depreciation and Amortization (EBIDTA) of Rs 104 crore.