JK Paper is set to takeover the management of the ailing Sirpur Paper Mills, located at Kaghaznagar, with the resolution plan and and the approval of a consortium of lenders headed by IDBI, in the final stages.
JK Paper has come up with a 628-crore resolution plan.
Responding to the proposed move by JK Paper, the Telangana government had announced a slew of sops that would revive one of the important projects at Sirpur Paper Mills and help protect the jobs of over 1,200 employees directly engaged with the integrated paper mill.
A group of ministers which met last month, had recommended sanction of certain tailor-made benefits, which were then approved by the State Cabinet.
The Sirpur Paper Mills, an integrated paper and pulp mill, commence…
Read the full article at: https://www.thehindubusinessline.com/companies/jk-paper-set-to-take-over-sirpur-mills-by-month-end/article23416648.ece
