Hyderabad-based BVR Paper Industries
is likely to commence commercial production by December 2007. Currently, site
work was underway and the company is in the process of placing orders for the
machinery.
The proposed project entailing an
investment of Rs.60 crore is coming up at Vengalattur in Chittoor district in
Andhra Pradesh.
In another development, the company
also plans to set up a 1.5 MW biomass and coal based power plant at the same
location. The unit would spread over 55 acres of land.
The project entailing an investment of
Rs.25 crore would be funded through bank loans and internal accruals.
Work was likely to commence by January
2007 with completion scheduled for December 2007.
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