Following is an excerpt from a report in expressindia.com.

JK Paper plans to invest around Rs 1,500 crore to set up a new pulp mill at Rayagarh Rayagada, Orissa. “The amount would be raised through a mix of debt and equity in the ratio of 1.5:1,” JK Paper MD Harsh Pati Singhania said. He said the company will raise the money through external commercial borrowings, debt instruments such as foreign currency convertible bonds apart from internal accruals. The new pulp mill will come up with a capacity of 2 lakh tonne per annum and paper a capacity of 1.5 lakh tonne per annum. It is likely to be commissioned in the second half of 2012.

For the new plant, the company will also ramp up its captive power unit from existing 35 mw to 55 mw.