- NET Web Desk
In a recent development regarding the defunct paper mills in Assam, the state government has now offered to purchase all assets of Hindustan Paper Corporation (HPC) mills located at Jagiraod and Panchgram.
The Assam Industrial Development Corporation has written a letter in this regard to liquidator Kuldeep Verma on November 11. AIDC has proposed to pay an amount Rs 300 crore to buy the movable and immovable assets of the paper mills.
Reportedly, around a month ago, the state government had stated its willingness to buy all assets of two defunct paper mills of Hindustan Paper Corporation Limited.
The government also providd Rs 570 crore to its employees as part of a relief package according to an agreement.
An official said, “According to the agreement, ₹ 570 crore will be disbursed within two months on approval of the proposal by the National Company Law Tribunal (NCLT), permanent employment will be given to 100 workers in state government entities through a special recruitment drive, and all doctors, auxiliary nurse-midwives and other paramedics will be given employment.”
According to sources, the latest development that came in a month after committing to pay the dues of the employees, the government has appointed the Assam Industrial Development Corporation Limited (AIDC) as the nodal agency to acquire the assets of HPC paper mills.