Tribune News Service
Ludhiana, August 4
The JK Group has been allotted land in the Cycle Valley near here by the state government. The company is planning investment of Rs 150 crore in the state for a corrugated packaging paper manufacturing unit. The group received the land allotment letter today. Rajat Aggarwal, CEO of Invest Punjab, said a function was held at Chandigarh in which the Chief Minister formally welcomed the group in the state.
The unit will be a state-of-the-art manufacturing facility that will be established using advanced machinery imported from different countries. It will initially procure raw material, which is waste paper, from different parts of the country and supply finished goods, which is corrugated packaging paper, to industries in Punjab and other neighbouring states. It will also provide a fillip to the waste paper industry ecosystem in the state, helping Punjab achieve its sustainability goals. The presence of this unit in the state will help the local industries in sourcing their packaging material from within the state, which will enhance their cost competitiveness. Further, the majority of the production will be consumed in the state, which will subsequently boost the state’s GST revenue.
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