December 17, 2013
The investment climate in UP has begun to look up, and more investors have started looking towards this state. Jagdishpur Paper Mills Ltd has decided to establish a paper mill in the Utelwa industrial area with a sizable investment of Rs 3,700 crore. The government has decided to allot land to M/s Jagdishpur Paper Mills Ltd.
In an official statement, the government said the industrial project will be developed in two phases. Under each phase, a 150,000 TPA capacity paper machine with pulp line and a captive power plant will be installed. The mill will be equipped with integrated pulp and coated/uncoated printing and writing paper machines with state-of-the-art technology and modern re-winders.
Out of total proposed investment of Rs 3,700 crore, Rs 1,700 crore will be invested in the first phase, whereas, Rs 2,000 crore will be invested in the second phase. It will generate new employment opportunities for 900 people directly and for 8,000 people indirectly. The project will also create potential for MSME incubation related to paper industry as well as new avenues of income for marginal farmers under the farm forestry programme of the project. At present, M/s Jagsidhpur Paper Mills Ltd has already deposited a 10 per cent amount of the total cost of land with UPSIDC, amounting to Rs. 12 crore.