Two Assam paper mills to go on e-auction on Dec 24; HPC liquidator sets Rs 700 crore as reserve price

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The state government earlier had offered Rs 300 crore to purchase all assets of Hindustan Paper Corporation (HPC) mills located at Jagiraod and Panchgram
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Two Assam paper mills to go on e-auction on Dec 24; HPC liquidator sets
Nagaon Paper Mill (File Image)

Guwahati: In a recent development regarding the defunct paper mills in Assam, the liquidator of Hindustan Paper Corporation (HPC), Kuldeep Verma has set Rs 700 crore reserve price for e-auction, to be held on December 24, 2021.

This comes after the state government had offered Rs 300 crore to purchase all assets of Hindustan Paper Corporation (HPC) mills located at Jagiraod and Panchgram.

In a letter, the Assam Industrial Development Corporation (AIDC) earlier had written in this regard to liquidator Kuldeep Verma last November 11.

Notably, months ago, the state government under the leadership of Assam Chief Minister Himanta Biswa Sarma had also provided an amount of Rs 570 crore to its employees as part of a relief package according to an agreement.

Further, the latest development that came in a month after committing to pay the dues of the employees, the government had appointed the Assam Industrial Development Corporation Limited (AIDC) as the nodal agency to acquire the assets of HPC paper mills.

Read More : Assam-Meghalaya ‘Poorest’ in NE: National Multi Dimensional Poverty Index

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