The board of Orient Paper & Industries cleared the company’s proposal to set up a 3Mta greenfield plant at Gulburga, Karnataka. The board also approved plans to set up a 50MW power plant.
OPIL is understood to have already obtained the Karnataka government’s approval for the proposed project as well as its go ahead to buy some 1500 acres. The cement plant is likely to be financed by a mix of internal accruals, debt and equity.
