Business Daily from THE HINDU group of publications
Sunday, Mar 11, 2007
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Business Daily from THE HINDU group of publications Sunday, Mar 11, 2007 ePaper |
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Awards & Honours Hind Paper embarks on Rs 660-cr modernisation, tech upgradation plan Our Bureau
Mill map Embarks on a Rs 660-crore modernisation plan at its Cachar, Nagaon mills. Seeks to establish a greenfield 3-lakh tpa mill in Northern India. Overseeing a Rs 552-crore mill revival scheme.
MOU EXCELLENCE: The Prime minister, Dr Mamohan Singh, presenting the award to the HPC Chairman & MD, Mr Raji Philip. Mr Santosh Mohan Dev, Union Minister for Heavy Industries, is also seen.
Kolkata March 10 Hindustan Paper Corporation (HPC), which is in expansion mode, seems to have got further impetus from the Union Government with the Prime Minister, Dr Manhohan Singh, bestowing it the `MoU Excellence Award' for fiscal 2005-06. The award was received recently in Delhi from Dr Singh by the HPC Chairman and Managing Director, Mr Raji Philip. The memorandum of understanding (MoU) is a mutually negotiated agreement between public sector enterprises (PSEs) and the Union Government. Under this agreement, the PSE undertakes to achieve the targets set out at the beginning of each financial year. The MoU covers both financial and non-financial parameters and the performance is measured on a weighted five-point scale. In financial year 2005-06, HPC's three operating mills — Cachar Paper Mill and Nagaon Paper Mill, both located in Assam and Hindustan Newsprint Ltd located in Kerala — have recorded a combined production of 3,20,118 tonnes of paper/newsprint as against about 3,09,500 tonnes during the previous fiscal. HPC has exceeded the combined installed capacity of 3-lakh tonnes for the fourth time in succession. Of the total production, writing & printing paper was 2,07,000 tonnes. A HPC press note has stated that the organisation is at present embarking on a Rs 660-crore modernisation and technological upgradation plan covering its Cachar and Nagaon mills, to raise production capacity. The company had recently launched a Rs 719-crore expansion-cum-diversification project at Hindustan Newsprint Ltd seeking to add capacity for production of 1.8-lakh tonnes per annum (tpa) finer papers (primarily newsprint), thus making it close to a 3-lakh tpa capacity mill, the note said. All these plans are underway and will be completed phase-wise by 2009.
Greenfield unit
Hindustan Paper is also seeking to establish a greenfield 3-lakh tpa mill in Northern India besides overseeing the Rs 552-crore scheme for revival of the non-operational mills such as Nagaland Pulp & Paper Company Ltd at Tuli, Nagaland, by doubling the installed capacity to 66,000 tpa.
More Stories on : Awards & Honours | Paper | rd & Newsprint | PSU
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