International Papers to set up Rs 4,000-cr unit

In a big ticket investment which industry insiders say will be second only to Ford’s in size, Memphis, USA-based paper, packaging and distributing agency International Papers plans to invest Rs 4,000 crore near Dahej in Bharuch district for setting up a manufacturing unit.

The manufacturing unit will produce multi-layered paper boards and the Gujarat government has received an application from the firm for 50 hectares of land for setting up the manufacturing unit, a government official said.  

The company has applied for land in the newly developed Gujarat Industrial Development Corporation (GIDC) in Sankhya locality of Dahej. The GIDC is situated on a sprawling 1,500 hectares of land.  

Gujarat government officials admitted that this is the second such investment from a US firm in Gujarat after automobile major Ford invested in Sanand. 

“This is one of the biggest investments to come from the US this year though,’’ the official said. Officials pointed out that the firm is not new in India, as it has a presence in Andhra Pradesh.  

The company operates two manufacturing  units in Andhra Pradesh, one in Rajahmundry, and the other in Kadiyam. 

In Andhra Pradesh it has a holding of 75 per cent in what was formerly known as The Andhra Pradesh Paper Mills Limited (IPAPPM).

Officials of the state government here are hoping that the process of the US firm wanting to set up a unit will speeden up post the visit of Prime Minister Narendra Modi to the US.

“Providing land as per the requirement of the firm has already been considered by the state government, the officials of the firm have to come and start the process of setting up the manufacturing unit,’’ the official said.

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