The efforts of the Telangana government to revive the Sirpur Paper Mills have borne fruit. The National Company Law Tribunal (NCLT) has approved the proposal for the revival of the mills.
The Telangana government has extended certain incentives to J K Paper Limited, which had submitted a proposal to revive the closed mill located in Komaram Bheem Asifabad district, leading to the NCLT decision.
Minister K T Rama Rao expressed his happiness over this development, and said that the Telangana government had been putting consistent efforts to revive the sick units in the state. He said that the government had made multiple attempts to revive the Sirpur Paper Mills over the past three years, and that the representatives of the state government had visited Ahmedabad, Mumbai, Kolkata and many other cities and held talks with various companies for the revival of the mills.
Sirpur MLA Koneru Konappa said that the latest development had rekindled hopes in the town of Kagaznagar, whose economy had collapsed due to the factory's closure. He thanked Chief Minister K Chandrashekar Rao and K T Rama Rao for their efforts to facilitate reopening of one of the oldest paper manufacturing units in the country.
Once revived, the paper mills will generate about 1,200 direct and 4,000 indirect employment opportunities to the people in the region.