KOLKATA: State-owned Hindustan Paper Corporation (HPC) has earmarked a Rs1,380-crore capital expenditure plan for upgrading and expanding its units in Assam and Kerala.
A company spokesman said HPC has planned a Rs660-crore modernisation drive at the Cachar Paper Mill (CPM) and Nagaon Paper Mill (NPM) in Assam as part of its initiative to position itself as a leading player in the Indian paper industry.
The company is also investing Rs719 crore in an expansion and diversification plan at Hindustan Newsprint (HNL) in Kerala, where the capacity would be expanded to 300,000 tonnes per annum (tpa).
These projects would be completed by 2009, the spokesman said.
HPC also planned to set up a greenfield plant in north India with a capacity of 300,000 tpa, and has chalked out a Rs552-crore revival scheme for Nagaland Pulp & Paper Company, by doubling the installed capacity to 66,000 tpa.