Link / India: Sirpur Paper Mill put up for sale by banks
(Adilabad, Telengana, India, Feb. 2017) The closed Sirpur Paper Mills Limited (SPM) has been put up for sale by banks to recover their dues amounting to ₹422.21 crore. The sale is being seen as the first concrete step towards reopening of the unit which has 2,000 staff and workers on its rolls besides 1,000 contract workers.
SPM was an integrated pulp and paper mill, one of the largest manufacturer of variety and colour paper. It was started in 1938 in Sirpur-Kagaznagar town in Adilabad district. It is now owned by R.K. Poddar and has stopped production since October 2014 throwing the lives of the workers and the general economy of Kagaznagar town out of gear.
To read complete report Go To: “Sirpur Paper Mill put up for sale by banks” (Source: The Hindu)