Kagaznagar celebrates NCLT decision

Major hurdle cleared for reopening of Sirpur Paper Mills

The main gate of the Sirpur Paper Mills in Kagaznagar town.

Kagaznagar town in Kumram Bheem Asifabad on Thursday witnessed impromptu celebrations with its citizens rejoicing at the prospect of reopening of the closed Sirpur Paper Mills. The decision of the National Company Law Tribunal, which disposed of a case has paved way for the reopening had the workers and others bursting crackers all across the town. The workers burst firecrackers at the SPM main gate, Lorry Chowk, Rajiv Chowk, Ambedkar Chowk and NTR Chowk. The SPM grounds was the main attractions as the jubilant workers organised a grand show of bursting firecrackers. The oldest paper mill in the State, which was inaugurated in 1938 by the VI Nizam, had been closed in Spetember 2014 throwing into disarray the lives of 2,000 regular staff and 1,200 contract workers. Efforts were made for revival of the factory for the last three years and more which had the State government announcing tailor made concessions for JK Paper Limited in its bid. The government order detailing the concessions was issued on March 21. Among the concessions was the 100% reimbursement of State GST for the next 10 years, exemption in stamp duty and supply of coal at concessional rates. The JK Paper Limited had proposed a ₹ 28 crore plan for revival of the unit.