Whitefield Paper to set up SEZ in Andhra
Rajahmundry, Sept 4: The Centre has cleared a proposal by the Rs 1,200 crore Whitefield Paper Mills Limited (WFPML) for setting up a sector specific Special Economic Zone (SEZ) at Bayyavaram of West Godavari District, WFPML Chairman T Srinivasa Rao has said.
Addressing presspersons here today, Mr Rao claimed the proposal was the only one of its kind among the 150 SEZs cleared by the Union Government.
The WFPML had already taken possession of the land alloted by the Andhra Pradesh Government and the construction work would begin from December this year.
The company would produce two lakh metric tonne of paper per annum from 2008 with 60 per cent of the output earmarked for exports to Europe and the US and balance for supply to domestic market.
It had already signed a MoU with Swedish major Elof Hansson Group for supply of wood pulp and buy back of finished products.
Elof Hansson had agreed to support the project by arranging suppliers' credit for plant, machinery and equipment, Mr Rao added.