Tenders will likely be issued soon
The Indian government is handing over Hindustan Paper’s closed paper mills in Cachar and Nagaon to a third party, reports Northeast Today.
The mills were closed in 2015, and the government in February 20, 2018 announced that it is actively considering a proposal to hand over the management of the paper mills to a third party in order to revive the units, for an estimated cost of INR 1,800 crore.
Clarifying the government’s decision, Assam Commerce and Industry minister Chandra Mohan Patowary, said, “Centre has decided to give the units to a third party for its revival and is likely to float tenders soon for Expression of Interest.”
“Even though the management is likely to be handed over to a third party for the revival package, the ownership will remain with the Central government,” the minister said.