$3.5 Billion Paper Mill’s Foundation Laid | MoU signed | Asia Pulp and Paper to follow Forest Conservation Policy

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Read news update on Asia Pulp and Paper's Foundation Laid Ceremony for New Paper Mill having capacity 3.5 Million Tonnes at Andhra Pradesh (India)

$3.5 Billion Paper Mill’s Foundation Laid | MoU signed | APP to follow Forest Conservation Policy

Ramayapatnam | 9th January 2019 | The Pulp and Paper Times

The process of India’s largest Greenfield Paper mill project has got the green signal by Andhra Pradesh’s Chief Minister Mr. N. Chandrababu Naidu. Laying the foundation stone for port and paper mill at Ramayapatnam, Prakasam District, Mr. Naidu said “APP’s decision to invest in Andhra Pradesh is a clear testament to our Government’s efforts at attracting investments and confirms higher levels of satisfaction and confidence on our business environment, from international investors.”

“Prakasam district has a high density of wood plantation and forms synergies and linkages for the pulp and paper industry. Furthermore, Eucalyptus is extensively grown in this district, providing ready availability of raw material,” he said during the inauguration.

Asia Pulp & Paper (APP) signed a Memorandum of Understanding (MoU) with Andhra Pradesh Economic Development Board (APEDB), to develop a 5 million tonnes per annum, greenfield pulp and paper plant in Prakasam district. The MoU was signed by J. Krishna Kishore, Chief Executive Officer, (APEDB) and Suresh Kilam, Executive Director, Asia Pulp & Paper, in the presence of N. Chandrababu Naidu, Chief Minister of Andhra Pradesh.

Through this MoU, APP will set up a greenfield pulp and paper manufacturing unit pulp, paper and board, subject to regulatory approvals and other requirements. Spread over an area of 1,000 hectares (2,471 acres), the total investment amounts to approximately INR 24,000 Crores (USD 3.5 Billion), making it one of the biggest Foreign-Direct Investments (FDI) in the country till date.

The project will be implemented in two phases and is estimated to provide direct employment to 4,000 workers and indirect employment to about 12,000 workers. The project is also expected to provide improved incomes for over 50,000 pulpwood farmers in the region. This Greenfield project will generate indirect employment in ancillary services, such as logistics providers for inbound and outbound transport of raw materials and finished products, maintenance providers for the plant, waste paper suppliers, chemical suppliers, converters and distributors and would ensure marked improvement across the value chain of the Indian paper industry.

Suresh Kilam, Executive Director, Asia Pulp &Paper said “As India continues to rapidly develop, demand for pulp and paper products will grow to keep pace. It is vital that we meet this demand in a sustainable and socially responsible way. In developing the Ramayapatnam mill, APP will draw heavily on our forestry expertise in Indonesia to ensure that we continue to meet all our commitments under our Forest Conservation Policy.”

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