Rainbow plans unit in Nigeria - Papermart

Rainbow plans unit in Nigeria

In a recent interview with Paper Mart, Mr. Ajay Goenka, Chairman and Managing Director, Rainbow Papers, said that his company is planning a paper mill in Nigeria with a total investment of 350 crores. According to recent news reports it is said that the size of plant will be 150,000 tonnes per annum and it will cater to the African markets by floating a separate subsidiary. It is said that the company has received firm commitment for concessions from the Nigerian Government. The company exports about 70,000 tonnes of paper products to African countries and would be able to tap that market more efficiently besides saving on logistic costs.