India-based Ballarpur Industries (BILT), one of the country's largest paper companies and part of the Avantha Group, is set to invest approximately between $77-88m over the next five years to double its production capacity.
Avantha Group chairman and CEO Gautam Thapar said that their production will go up from the current one million tonne to two million tonne by the end of this period.
BILT has six manufacturing facilities nationwide, and controls a significant share of the high-end coated paper segment in India.
Additionally, over half of the coated wood-free paper market and 85% of the bond paper market is retained by the company. BILT is also the India’s largest exporter of coated paper.
At the end of the five year period, BILT may also hike the production capacity of its Malaysian subsidiary, Sabah Forest Industries, from 250 million tonne to 750 million tonne, Thapar added.
Thapar also said that the group was mulling re-entering the paperboards business, but that it would not be under BILT. In 2003, ITC had acquired the paperboard division of BILT Industrial Packaging Company (BIPCO) for $51.02m.