Orient Paper to set up new cement plant in Karnataka

Orient Paper & Industries (OPIL) proposes to set up Rs 1,473 crore 3 mtpa cement manufacturing facility at Gulburga in Karnataka. OPIL has already obtained the Karnataka Government's approval for the proposed project as well as its go ahead to buy about 1,500 acre for the same. The Greenfield unit will be part financed by a mix of internal accruals, debt and equity. OPIL plans to become a 12-15 mn tonne manufacturing firm by 2015-16. Contact: Orient Paper & Industries. Tel: 0674-239 6930. Fax: 0674-239 6364. E-mail: paper@opilbbsr.com