The Hindu Business Line : Rama Pulp plans expansion

Rama Pulp and Papers Ltd will invest Rs 60 crore to acquire additional capacity of 40,000 tonnes per annum. Currently, its capacity is about 21,500 tonnes per annum. Out of the Rs 60 crore, Rs 15 crore will be promoters' contribution and the balance will be met by foreign funds.

"We are in the final stages of talks for foreign funds as well as the acquisition and expect the deal to come through in the next 1-2 months," said Mr Mahesh Mehta, Director, Rama Pulp and Papers Ltd. The acquisition will be in the Maharashtra and Gujarat areas. Shares of the company fell by 4.42 per cent to close at Rs 53.20 on the BSE.

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