Paper mfg company keen to invest Rs 1,000 cr in Punjab
A paper manufacturing company has proposed to invest Rs 1,000 crore for setting up a manufacturing unit in Punjab, an official said.
The unit, proposed to be set up at Chamkur Sahib in Rupnagar district, will also give a boost to Captain Amarinder Singh-led government's efforts to curb stubble burning as the manufacturing unit will use agricultural residue to produce writing and printing paper, an official spokesperson said.
Giving details of the proposal, the spokesperson said Ruchira Papers Limited had filed an application in the 'Invest Punjab' office on September 27, seeking state level approvals for setting up a new manufacturing unit.
Expected to be commissioned by 2019, the project will generate fresh employment for around 3,500 people, according to the company, engaged in the manufacturing of the well-known brand of 'Kraft Paper'.
Ruchira Papers, established in 1980, currently has manufacturing facilities in Himachal Pradesh and is keen to expand into Punjab in view of the industry-friendly initiatives launched by the new Congress government, said the spokesperson.
At the same time, it resonates with the chief minister's personal efforts to check burning of agricultural residue, which is leading to massive degradation of air quality in the state.
(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)
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