ITC to finalise site for paper project soon

ITC Ltd will decide the location of its proposed Rs 2,500 crore greenfield integrated pulp and paper project in the next two months, said Pradeep Dhobale, chief executive, paperboards and speciality papers division.

"The company has singled out locations in Madhya Pradesh, Gujarat and Andhra Pradesh and is conducting economic evaluation on the logistics costs involved. It will take a maximum period of two months to take a final decision," Dhobale added.

The facility will be up in three years and increase the company's capacity to 5.5 lakh tonne from the current 3.5 lakh tonne.

At a press conference on Monday, ITC launched the ECF (elemental chlorine-free) packaging. It became first company in India to use ECF pulp at its paperboard manufacturing facility in Bhadrachalam (Andhra Pradesh). ECF is a world class food-grade packaging and will be used by Bikanervala Foods Pct, one of the customers of ITC.

ITC is also focusing on FMCG, foods, pharmaceutical and textile industries as fast-growing market segments for its ECF range of value-added products.

The company has invested over Rs 750 crore in its paperboards business in the last two years to acquire international competitiveness in cost and quality.