Thursday, Apr 28, 2005
Thursday, Apr 28, 2005 |
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Special Correspondent
KOLKATA: The public sector Hindustan Paper Corporation (HPC) is considering the option of making an initial public offer for part funding the capacity expansion plans of its wholly-owned subsidiary Hindustan Newsprint Ltd. (HNL). Addressing a press meet here the HPC Chairman, Raji Philip, said this was among the various options being explored for raising capital for a Rs. 640 crore plan for HNL which is planning an additional one million tonne capacity with flexibility for producing finer grades of writing and printing paper. Management consultant, Jacko Purie of Finland, has been tasked to do the detailed project report for this expansion plan. HNL is located in Kerala. This apart, a Rs. 520 crore capital expenditure plan has been chalked out for modernisation and technology upgradation of HPC's mills in Assam. While HPC makes a range of ordinary and specialised papers, HNL, makes standard and pink newsprint being India's largest newsprint producer.
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