Mysore Paper Mills, one of the famous factories in Asia, will be rejuvenated, said its newly appointed President B Suresh Gowda.
Speaking at function in Kunigal Suresh Gowda said,  the factory was at a loss of Rs 41 crore. He said, he had discussed the issue with Deputy Chief Minister B S Yediyurappa who assured him of releasing Rs 50 crore for the renovation works.
In the factory, around 4,500 workers have been employed, he said. The factory will be given a facelift and sophesticated machines and technology will be installed within next six months, he added.
Further, he said, a meeting was held with the minister regarding regularisation of the services of workers in the factory.
A meeting will be held with the workers also soon to discuss their grievances and chalk out solutions for them, said Suresh Gowda.
Besides globalisation and privatisation, financial ‘leakage’ in the factory is also a cause for loss. Hence, strict action will be intiated against the corrupt and inefficient officals and staff. 
As the factory is in loss, Gowda said, he will not avail the salary, house allowance, telephone bill reimbursement and other facilities.
Minister for Health R Ashok, MP S Mallikarjunaiah, district BJP President and also legislator Kirankumar, Legislator Araga Jnanendra and Taluk   Panchayat President Narasimhamurthy were present.