From Our Special Correspondent
Daijiworld Media Network

Bengaluru, Dec 11: Efforts are being made to revive the State-owned Mysore Paper Mills unit at Bhadravathi at a total investment of Rs 350 crore, Karnataka’s Planning Board Deputy Chairman C M Ibrahim said on Friday.

He said an application that referred the MPM for the Board for Industrial and Financial Reconstruction (BIFR) would be withdrawn and Chief Minister Siddaramaiah would be urged to sanction funds for the revival of the MPM. 

Ibrahim made this announcement following a meeting with Shivamogga District in-charge minister Kimmane Rathnakar on revival of the MPM.

Another round of meeting would be held with officials of Major Industries, Medium and Small Scale Industries and MPM on December 15 to prepare a plan for the revival of the MPM.

He, however, ruled out privatisation of the factory and said the revival plan would include printing of judicial papers, revenue stamps, stamp papers and other papers, which have high demand in the market. 

An option of manufacturing of mineral bottled water utilising water from the Bhadra river would be explored, he said.

The PSU would be either be revived with government funds or leased out to private parties to run.

A total of 65,000 acres of forest falls under the factory’s jurisdiction, he said.