Textile major Abhishek Industries Ltd plans to invest Rs750 crore to expand its paper capacity to 135,000 triple the existing size, informed company official.
Company Secretary Pawan Jain informed that projects in the northern state of Punjab would partly be funded by $60 million issue of shares or debt and finished by 2007.
In March 2006 company reported net profit of Rs175.1 million and net sales of Rs2.43 billion.
Abhishek Industries is a large corporate business house having a turnover of more than Rs10 billion and having global operations.
Group interests include textiles, paper, chemicals, co- generation of power for captive use, construction and IT.
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