Kalptaru enters into MoU with Satpuda Papers

New Delhi, Oct 3 (UNI) Paper maker Kalptaru Papers Ltd has signed a Memorandum of Understanding (MoU) with Maharastra-based Shree Satpuda Tapi Parisar Sahakari Sakhar Karkhana Ltd and expects a turnover of Rs 150 crore in FY08-09, with the joint venture.

As per the MoU, the company will run Satpuda's 100 TDP Bagasse based integrated pulp and paper plant on lease basis for ten years, a statement said.

The company will start production at the leased premises on or before December 31, 2007 and will produce about 30,000 tonnes of printing and writing paper annually.

Kalptaru has also purchased one tissue paper machine with production capacity of 35 TPD of 16 GSM paper from Can am machinery incm, US.

UNI