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Indonesian group to invest $3.5BN in Indian pulp, paper unit
Indonesia’s Asia Pulp and Paper (APP) group has unveiled plans to invest some Rs 24,000 crore ($3.5 billion) in its pulp and paper unit in India’s Prakasam district.
To develop the investment, APP has signed a memorandum of un-derstanding with of the Andhra Pradesh Economic Development Board, according to the information obtained by local daily The New Indian Express.
Under the plan, the new facilities will be enabled with manufacturing capacities of 5 million metric tonnes per year, creating some 4,000 direct and 12,000 indirect jobs in Prakasam.