Shreyans Industries to Spend CAPEX of INR 60 Crore on Modernization

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Read the paper mill modification news, Paper Mill: Shreyans Industries Ltd, location: Punjab.

Shreyans Industries to Spend CAPEX of INR 60 Crore on Modernization

Punjab | 6 July 2019 | The Pulp and Paper Times:

Optimistic about the growth of Writing and Printing paper in India, Shreyans Industry has decided to foray heavy capex towards increasing the efficiency of its paper operation. According to the FY 18-19 Annual report of the company, Shreyans will incur around INR 60 crore on plant and machinery modification on its both paper units.   

Shreyans Papers

Total production of paper in this unit was 49,858 MTs, which was almost at the same level of 49,169 MTs of last year. “In the current year, further capital expenditure is planned to strengthen the bleach plant to further improve the quality of the end product and optimize other operating parameters. Total capital expenditure planned is in the range of Rs. 25 crores to 30 crores. This will help the unit to further improve its operations in terms of quality and better environmental performance” Report says.

Shree Rishabh Papers

Total paper production in this unit was 39,704 MTs which was significantly higher as compared to last year's production of 31,881 MTs. “In the current year, further capital expenditure to install improvised Bleach Stage Washers, additional Fluidized Bed Reactor soda recovery plant, Turbo calenders and Steam condensate system at the paper machine is planned to strengthen the operations of the unit. Total capital expenditure planned is in the range of Rs. 27 crores to 32 crores.” Report says.

The report further revealed that the “Paper industry in India witnessed improved performance which is attributable to better realizations driven by high input cost. International pulp prices, key raw material continued to inch up till September end pushing up the paper prices. China, the largest importer of waste paper globally, announced a ban on certain grades of waste paper in July last year which came into force in January 2018. The move led to increased demand for pulp pushing up the global pulp prices. However, pulp prices have softened during the last couple of months, which in turn has affected paper prices also.”

“Shreyans has a close watch on various developments and diversification of product range whenever found necessary will be undertaken. The company shall also look forward to business opportunities if the situation so warrants. Eco-friendly technology adopted by the Company, motivated manpower and market leadership vision makes future outlook quite optimistic.” The report further described.

Corporate Social Responsibility Initiatives 

According to report “Shreyans, in collaboration with a local NGO in Ahmedgarh, has set up an Eye Hospital. Besides contributing to setting up this hospital, financial assistance is extended on a monthly basis. Eyecare is provided to needy persons on subsidized rates/free of cost.  The company is also involved with various educational institutions for providing scholarship/financial assistance to deserving students on recommendations of the management of such institutions. The company actively participates with a number of NGOs for holding medical check-up camps, sports events and other social activities. The company provides fire fighting services, as and when the need arises, in nearby areas through its own fire tender and fire fighting staff.”

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