ITC Buys Birlas' Paper Biz for ₹3,500 Crore

ITC Ltd on Monday announced the acquisition of Century Pulp and Paper from Aditya Birla Real Estate Ltd for ₹3,498 crore, expanding its own paper capacity by half, and gaining a foothold in the north.

- Suneera Tandon

NEW DELHI:

While ITC's paperboards and specialty papers business has an annual capacity of over 1 million tonnes, Century Paper has an installed capacity of 480,000mt per annum. All of ITC's four paper facilities are located in South India, while the Century paper factory is at Lakuan in Uttarakhand.