Paper industry
According to TheEconomicTimes local time on January 6th, Indonesian pulp and paper giant AsiaPulp & Paper Co., Ltd. (APP) will establish a new paper mill in Ramayapatnam, Prakasam District, India, which will have an annual production capacity of 5 million tons, not only India will also be the largest paper mill in the world.
The total investment of the project will reach 3.5 billion US dollars (about 245 billion rupees), is the largest foreign direct investment project in the Indian greenfield investment project.
APP has identified a 2,500-acre site for the project in the coastal area of ​​Prakasam, which plans to create approximately 15,000 direct and indirect jobs. According to reports, the plant will produce packaging paper, specialty paper and writing printing paper.
JKrishnaKishore, CEO of the Andhra Pradesh Economic Development Authority, said: "We will work with the Indian Investment Authority to ensure that the project receives all permits, including the most important environmental permits, within 12 months (as of December 2019)."
“This will be the largest paper mill in India to date,†said Rohit Pandit, secretary general of the Indian Paper Manufacturers Association, in the past four to five years, due to shortages of raw materials and import tariffs under free trade agreements signed by India. At 0%, especially imported products from ASEAN countries and South Korea, the development of the Indian paper industry has been under pressure.
Kishore said the land acquisition for the project is in progress. “The government has acquired more than 50% of the land needed for the project and is acquiring the rest of the land. APP executives have also visited the site for more than a dozen times,†added the head of the Andhra Pradesh Economic Development Authority. .
According to another report, on January 9, local time, APP has officially signed a memorandum of understanding with the local government. Officials from the Andhra Pradesh Economic Development Agency said that APP chose to build a factory in Andhra Pradesh and took a fancy to the land near the coast, which facilitates the import of raw materials and facilitates the export of raw paper to a huge market like China.
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