Hindustan Paper Corporation Mills Can Generate Rs 260 Cr in Revenue, says JACRU

STAFF REPORTER

GUWAHATI: The Joint Action Committee of Recognised Unions (JACRU) Cachar and Nagaon Paper Mills, Assam has stated that after the two HPC (Hindustan Paper Corporation) mills achieve 100 per cent utilization in production and sale, their annual turnover would be around Rs 2,000 crore.

In a letter to the Chief Minister, the JACRU appealed to the government to 'save' the HPC mills by taking over the industries.

The JACRU underlined, if both the mills are properly utilized, Rs 260.88 crore in revenue may be collected per annum and the payback period would be less than 10 years having intact the entire assets in their custody.

The JACRU stated that the 'Advantage Assam' did not yield a satisfactory result, on the contrary imports of paper are enhancing every year. It said that if the production in both the paper mills is resumed then the objectives of 'Atmanirbhar Bharat' and 'Industrially Grown Assam' may come to reality.

"To accomplish the dream of establishing Assam among the top five states in India, the revival of the HPC mills will play a vital role. We are confident that the Government of Assam would take over the HPC mills along with its entire assets to revive the industries. We hope the government will fulfill its commitments made through its manifesto during the Assembly polls 2021," the JACRU stated in the letter.

The body also appealed to the government to release the 'legal and legitimate' dues of the workers.

"91 workers have already died under various compelling circumstances due to nonpayment of salaries since last 54 months," the JACRU added.

Earlier, the e-auction of two paper mills in Assam, Cachar, and Nagaon, has been canceled since no private enterprise deposited the obligatory 55 crores by the deadline of June 15.

The two paper mills were managed by Hindustan Paper Corporation Limited (HPCL). The executives and employees' organizations of the Cachar and Nagaon paper mills had contested the National Company Law Tribunal's approval of HPCL's auction of the paper mills on June 30. On June 16, the matter was scheduled for a hearing.

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