A feasibility study is currently being conducted for a 1.2 million tpy printing paper, tissue and cartonboard mill in the Indian state of Maharashtra, says Asia Pulp & Paper.
Asia Pulp & Paper (APP), a company of Indonesia's Sinar Mas group, mulls building a 1.2 million tpy printing paper, tissue and cartonboard mill Dherand, Raigdad district in the Indian state of Maharashtra. According to international media outlets, corresponding agreement between the government of Maharshtra state and Sinar Mas was already signed in May at the Wolrd Economic Forum (WEF) in Davos. On 29 November, the letter of allotment and the insentives offer letter were granted to APP by government officials, the company informed in yesterday's press release.
The company was "offered various incentives and the exclusive permission to receive 100 per cent of its investment back by way of multiple incentives offered, with provision of a 40 year timeline for receiving the incentive benefits," APP quotes Chief Minister of Maharashtra state Ekntah Shinde as saying.
APP puts the capital expenditure for the project at $1.2bn. The mill is expected to come online in 2025, subject to positive outcome of the feasibility study and permitting process. The site is to be ramped up to full production in 2027.