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Victory Paper to set up textile unit in Tamil Nadu

Victory Paper and Boards has received an approval for setting up of textile unit at Karur in the state of Tamil Nadu as a part of diversification of the operations of the company and purchase of 32.73 acres of land along with factory building and infrastructure situate at Nedungur Village, Karur from PSN Educational and Charitable Trust for a consideration not exceeding Rs 50 crore.

The Board of Directors of the company at its meeting held on October 15, 2018 has approved the same. The Board decided to avail short Term Loan of Rs 15 crore taken from Anna Aluminium Company.

Victory Paper & Boards (India) is engaged in the business of manufacturing paper, paperboard and its marketing.

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