NCLT approves revival of Sirpur Paper Mills

NCLT approves revival of Sirpur Paper Mills
Highlights

Consistent efforts by State government for the revival of the Sirpur Paper Mills yielded results The National Company Law Tribunal NCLT has approved the proposal for the revival of paper mills after the government extended certain incentives to JK Paper Limited

Hyderabad: Consistent efforts by State government for the revival of the Sirpur Paper Mills yielded results. The National Company Law Tribunal (NCLT) has approved the proposal for the revival of paper mills after the government extended certain incentives to JK Paper Limited.

The JK company had submitted a proposal to revive the closed mill located in Komaram Bheem of Asifabad district recently.

State Industries Minister KT Rama Rao expressed his happiness for the NCLT’s approval. He said that his government has been putting consistent efforts to revive the sick units in the State.

Minister stated that the government has made multiple attempts to revive the paper mills for three years. He mentioned that representatives from the State government had visited Ahmedabad, Mumbai, Kolkata and many other cities and held talks with various companies for the revival of the paper mills.

Once revived, the paper mills will generate 1,200 direct and 4,000 indirect employment opportunities in the region, providing livelihoods to thousands of people in Sirpur.

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