Thiruvananthapuram: Kerala Paper Products Ltd (formerly Hindustan Newspaper Ltd) is planning to diversify into high-quality packaging board and packaging-grade paper at a cost of Rs1000 crore, said Industries Minister P Rajeev in a social media post.
According to him, the proposed investment would be made in two phases of Rs650 crore and Rs350 crore respectively.
The company is targeting a turnover of Rs3000 crore, he said.
The State Government has so far invested Rs79.24 crore in the company which it had taken over from the Central Government, the minister said.
Starting commercial production a few months back, the company has emerged as a major supplier of newsprint to Malayalam newspapers, Rajeev added.
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