ITC plans to set up paper & pulp unit in AP: Media Reports
Posted By: Religare
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Following the request made by the Andhra Pradesh Industrial Infrastructure Corporation for allocation for 300 acres of forest land in Palvancha division, the State Board for Wildlife is likely to recommend allocation of forest land to FMCG major, ITC Ltd, said the media reports.
Subsequent to the land allocation, ITC is expected to invest Rs 3000 crore for setting up a paper and pulp unit at Palvancha division in Khammam district of Andhra Pradesh, the report stated.
With the proposed paper and pulp unit, the company will create a number of job opportunities for the local people, and will also create a market for pulp for the local farmers, the report added.