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Pragati Papers Industries Ltd is likely to finalise machinery suppliers for
400-tpd newsprint unit at Dahej in Bharuch district of Gujarat by June. The
project will also include a 16-mw waste-based power unit. The project, spread
over 4 lakh sq. ft area, will entail an investment of Rs 500 crore.
Of
the total project cost, around 82 per cent will be funded through bank loans and
the remaining through internal accruals.
The
company has achieved financial closure for the project with land acquisition
currently in progress. Consultant for the project is yet to be finalised. Work
is scheduled for completion by the end of 2010.
Published
in Projectmonitor issue: April 21, 2008