Financial Daily from THE HINDU group of publications
Thursday, Jan 26, 2006
Financial Daily from THE HINDU group of publications Thursday, Jan 26, 2006 |
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Corporate
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New Projects Rama Newsprint okays capacity expansion plan Our Bureau
Kolkata , Jan. 25 THE board of Rama Newsprint & Papers Ltd (RNPL), at its meeting has approved `in-principle' a Rs 350-crore investment plan for augmenting the company's annual newsprint and paper making capacity to the level of 1,35,000 tonnes from about 1,00,000 tonnes. The expansion plan is subject to approval of lenders (FIs and ICICI Bank). However, the working of the company during third quarter of the current fiscal (2005-06) was affected due to lower production because of planned shutdown of paper machine No 2 for modernisation and maintenance in September and October 2005 and higher down time. The company during the quarter ended December 2005 incurred a loss of about Rs 2.13 crore (Rs 0.68 crore) on a sales turnover of about Rs 74.6 crore. During nine months for the current fiscal, the company incurred a loss of about Rs 8.36 crore on a turnover of about Rs 233 crore as against a turnover of about Rs 221 crore and a net profit of about Rs 7.51 crore during the same period last year. According to a RNPL press note, the company made an investment of about Rs 55 crore during nine months of the current fiscal. It installed a 23 MW capacity turbine in July 2005 entailing an investment of about Rs 27 crore. It also enhanced the capacity of AP-2 boiler at a cost of Rs 3 crore, facilitating it to reduce its consumption of coal by 900 per tonne for producing per tonne of paper.
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