Corporate News 26-Aug-22
Board of Andhra Paper approves capex of Rs 400 cr
At meeting held on 26 August 2022
The board of Andhra Paper at its meeting held on 26 August 2022 approved a capital expenditure amounting to Rs 400 crore to re-build and upgrade the existing Pulp plant to improve the reliability and efficiency of the Pulp Mill. This will help sustain the current levels of production, improve efficiency in Pulp Mill processes and lend flexibility in operations, augment pulp production capacity from existing 550 Tonnes per day to 600 Tonnes per day. The expected completion timeline is November 30, 2023. The proposal shall be funded through mix of debt and internal accruals.
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