West Coast Paper places order for new machinery

West Coast Paper Mills Ltd has announced that the Company has placed an order for 1,35,000 TPA capacity new Paper Machine to produce copier grades and other high quality surface-sized paper with internationally reputed supplier viz., Voith Paper GmbH and Co., KG, Germany. This is one of the largest capacity paper machines in India with the state-of-the-art Wire and Press Section, Sizing and Calendering equipments.

The Company has finalized orders for the equipments envisaged in the expansion-cum-modernization programme for an amount equivalent to 70% of the total project cost of Rs 11000 Million and balance items, including civil jobs, will be finalized in due course.

The entire programme is expected to be completed within the next two years period.

The Company has done financial closure with International Finance Corporation, Washington for Foreign Currency loan of USD 40 million and ICICI Bank Ltd led Syndicate for External Commercial Borrowings of USD 125 million.

The stock was trading at Rs.395.20, up by Rs.6.45 or 1.66%. The stock hit an intraday high of Rs.403 and low of Rs.385.10. The total traded quantity was 3417 compared to 2 week average of 2965.

Source : Equity Bulls

Keywords