Tamil Nadu Newsprint and Papers (TNPL) has announced plans to invest INR12bn ($222m) to set up a new packaging board manufacturing unit in Tiruchi District.
The 200,000t per annum plant, which will come up on 989-acre land, will produce multi-layer double-coated board and is expected to generate over 2,000 jobs.
Work on the unit will start in 2013 in Srirangam Constitutency in the Tiruchirapalli district, around 350km from Chennai city, India. The project will be funded through internal accruals and term loans.
Expected to be ready in March 2016, the plant will produce high-end, white liner boards for folding boxes.
As a segment in paper industry, packaging board is said to be among the fastest growing products.
TNPL was established by the Government of Tamil Nadu to produce newsprint and writing paper using bagasse, a sugarcane residue.
