JK Paper lines up Rs 650 crore for investment, capex

JK Paper Ltd (JKPL) has lined up an investment of around $100 million (Rs 650 crore), part of which will be accounted for by the International Finance Corporation (IFC) putting in around $50 million.

JKPL is a leading Indian producer of office paper, packaging boards, printing and writing paper, and specialty paper. However, JKPL could not be reached for comments.

The proposed project entails capacity expansion and efficiency improvement, capital expenditures at the two existing plants, and debt refinancing.

The IFC’s investment aims at improving the company’s productivity and restructuring its balance sheet.

The proposed IFC investment is in the form of secured non-convertible