TNPL CUTS DOWN EXPANSION PROJECT SIZE TO Rs70 CR
Article Abstract:
Tamil Nadu Newsprint and Papers Ltd has reduced the cost of its expansion programme to Rs70 crore from Rs500 crore. This decision has been taken as the company has been adversely affected by sluggish market conditions and cheaper imports due to reduction in customs duty. The company has put on hold its plans to set up a Rs130 crore dinking plant to produce 40,000 tonnes of newsprint per annum. Its has also deferred its proposal to set up a paper machine and improve utilities at its facility at a cost of Rs200 crore. It has decided instead to debottleneck its plant and replace the existing bleaching process which will increase production to 80,000 tonnes per annum at a cost of Rs70 crore. (khr)
Comment:
Reduces the cost of its expansion program to Rs70 crore from Rs500 crore
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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ADDITIONAL IMPORT DUTY NOT TO AFFECT TNPL
Article Abstract:
The additional import duty of eight percent proposed in the Union Budget 1998-99 is not expected to affect Tamil Nadu Newsprint and Papers Ltd (TNPL). The company which imports raw materials CTMP and BHWSP, will not have to pay higher prices as the duty is not applicable to these commodities. These raw material accounted for 11 percent of the total turnover of TNPL in 1996-97. The company imports around 15,000 tonnes of CTMP for producing newsprint and 10,000 tonnes of BHWSP for producing printing and writing paper. (gsh)
Comment:
Additional import duty of 8% proposed in the Union Budget 1998-99 not expected to affect this firm
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
User Contributions:
Comment about this article or add new information about this topic:
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