JK Paper signs an MoU with the government of Gujarat for an investment of Rs 1,500 crore
GANDHINAGAR: A Memorandum of Understanding was signed between Paper jk , an important paper producing company, and the government of Gujarat in the presence of the Chief Minister Vijay Rupani .
the MoU , which is worth Rs 1,500 crores, will witness the extension and modernization of the Paper jk plant in Songadh of Tapi district and will be in operation by December 2020. Its capacity will increase from 60,000 TPA (tonnes per annum) to 1,60,000 TPA.
The prime minister said: It will generate employment opportunities for people in the area and the company will also obtain favorable conditions for its operations.
It is to be noted here that the plant which is located in the tribal district provides employment opportunities to 2200 people at present. Upon the necessary upgradation, it will provide employment to an additional 1000 people and the local companies will be able to supply raw materials too. the plant will also benefit as many as 10,000 tribal farmers.
the government has ensured minimum carbon footprint and kept in mind the environmental factors. Apart from that, the waste water emitted will be treated and re-used for farming.
Managing director of Paper jk Harsh Pati Singhani said, “ the transparent policies of the government and the stable administration inspired us to invest in the state. Since Gujarat has been in the top 5 states in ‘Ease of Doing Business,' an organization can think of long term investments in the state. I am thankful to the chief minister for encouraging and ensuring such a conducive environment."
M.K Das, chief secretary of industries and mines department, Mamata Verma, industries commissioner and Rajkumar Beniwal, MD, iNDEXT were present during the signing of the said MoU.