Cachar, Nagaon paper mills to go to third party for revival

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HT Bureau

Guwahati, Feb 1: Assam government said the Centre has decided to hand over Hindustan Paper Corporation’s closed mills at Cachar and Nagaon to a third party to revive the units at an estimated cost of Rs 1,800 crore.

Although the management is likely to be handed over to the third party for the revival package, the ownership will remain with the Central government, Assam Commerce and Industry Minister Chandra Mohan Patowary said here.

“The revival of the two paper mills is confirmed. The Government of India has decided to give the units to a third party for its revival and is likely to float tenders soon for Expression of Interest,” Patowary told a press conference.

The Assam government has been persuading the Centre for revival of the factories, but it got delayed because of payment issues and repair machineries, he added.

“We need around Rs 1,800 crore to revive the units.  For that, the management of both the units need to change. There was allegation of huge mis-management and it led to closure of the units,” the minister said.

Even after handing over the units to a new management, the jobs will be same for the existing staff,” he said. The Nagaon unit’s last production day was March 13 last year, while production at Cachar Paper Mill has been stopped since October 2015.

The two units have total staff strength of around 1,500 and installed capacities of 1 lakh tonne each per annum.



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