Tuesday, August 16th, 2022 18:10:26

Revival and modernisation plan for Nepa Limited

Updated: December 14, 2018 10:35 am

The Cabinet Committee on Economic Affairs chaired by the Prime Minister, Narendra Modi recently announced a financial package of Rs. 469.41 crore for the Revival and Mill Development Plan (RMDP) of Nepa Limited, a public sector newsprint company located in Nepanagar, Madhya Pradesh. This package includes an infusion of Rs. 277 crores as equity in the company for the completion of RMDP which shall enhance production capacity to 1,00,000 MT per annum from the present capacity of 83,000 MT per annum, diversify production, improve quality of products and also help resume production at Nepa Ltd. The RMDP is expected to be completed within a year. A loan of Rs. 101.58 crores has also been approved for the payment of salary andwages. This will reduce the hardship being faced by the Nepa Ltd. employees. A sum of Rs. 90.83 crores was approved for the voluntary retirement scheme of 400 employees. The strategic disinvestment of Nepa Ltd. on completion of the RMDP at an appropriate time was also approved. The completion of the RMDP will help Nepa Ltd. to boost production, diversify its product portfolio and also support employment in the tribal belt of Madhya Pradesh.

Comments are closed here.

Archives

Categories