BILT’s sick unit in Telangana may begin operation by August next year

BILT’s sick unit in Telangana may begin operation by August next year

Oct, 18, 2019:

Ballarpur Industries’ (BILT) sick unit near Kamalapur in Jayashankar Bhupalapally district in Telangana is expected to commence commercial operations by August next year.

An assurance to the effect was given to KT Rama Rao, Minister for Industries, Government of Telangana by Nehar Agarwal, Chief Operating Officer, BILT at a review meeting on Friday.

The paper unit had been closed since April 2014. As part of the revival plan, the State Government had agreed to clear BILT payments such as pending power bills, taxes and Forest Department arrears in instalments.

The Minister expressed his ‘displeasure’ over the delay in reopening of the unit even after providing government incentives for revival. He also cautioned the management that in the event BILT misses the deadline again, the State government will cancel the incentives.

The company management had assured KT Rama Rao that the workers will be given ₹10,000 as advance on the occasion of Diwali festival and an agreement was signed with the workers for payment of pending salary dues.

Some banks have also been approached to ease the financial situation and the State has agreed to offer a slew of concessions to pave way for the ailing unit’s revival.

The Minister had directed the Department of Industries to obtain an undertaking from the company assuring that it will be reopened before the expiry of the new deadline.

The Telangana Government had earlier facilitated takeover of the sick Sirpur Paper Mills Limited by the JK Paper Limited. The State had extended several incentives. The Sirpur unit is on the revival path. source; hindubusinessline.com

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