The Cabinet Committee on Economic Affairs (CCEA), chaired by Prime Minister Narendra Modi, announced a package of Rs 469.41 crore on October 3, 2018 for the Revival and Mill Development Plan (RMDP) of Nepa Limited, a public sector newsprint company located in Nepanagar, Madhya Pradesh.
The package includes an infusion of Rs 277 crore as equity in the company for the completion of RMDP, which shall enhance production capacity to 1,00,000 MT per annum from the present capacity of 83,000 MT per annum, diversify production, improve quality of products and also help resume production at Nepa Ltd.
The RMDP, which is expected to be completed within a year, will help Nepa to boost production, diversify its product portfolio and also support employment in the tribal belt of Madhya Pradesh.
A loan of Rs 101.58 crore has also been approved for the payment of salary and wages, which will help in reducing the hardships faced by the Nepa employees. A sum of Rs 90.83 crore was approved for the voluntary retirement scheme of 400 employees.
Nepa Ltd was set up in 1947 and was the only newsprint manufacturing unit in India up to 1981.