Indonesia-based Sinar Mas will set up a paper manufacturing unit in Raigad district’s Dherand village. The project will entail an investment of INR 20,000 crore in two phases.
December 01, 2022
The Maharashtra government has allotted 287-hectare land for an INR 10,500-crore project by Sinar Mas Pulp & Paper. One of Indonesia’s largest conglomerates, Sinar Mas Pulp & Paper, would be setting up a paper manufacturing unit in Dherand village in Raigad district. The project will entail an investment of INR 20,000 crore in two phases. The land allocation papers were handed over to the company officials by Chief Minister Eknath Shinde and Deputy Chief Minister Devendra Fadnavis in Mumbai.
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According to a press statement issued by the State government, the Indonesian company will invest another INR 10,000 crore in the second phase after the investment of INR 10,000 crore in the first phase. Chief Minister Eknath Shinde further said that all kinds of facilities and support would be provided by the government to the company.
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The project is expected to generate around 7,000 direct and indirect jobs. Meanwhile, around 600 hectares of land in the same district has been earmarked for the second phase. State Industries Minister Uday Samant said that the flow of investment is increasing in the State and MoUs of around INR 40,000 crore would be signed in the coming days. He also added that special status has been given by the State government to the Sinar Mas project.