Revival Plan to Inject Fresh Investment into Paper Mill

SEATTLE (Scrap Monster): As the new MD's plan aims to bring in new investment, the Karnaphuli Paper Mill (KPM) in Kaptai, Bangladesh, is poised for a renaissance. Over the past few years, the mill has seen significant losses and a decline in production capacity as a result of a number of internal problems, including poor management, a shortage of competent workers, and antiquated machinery.

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The recently revealed Tk36,000 crore rejuvenation initiative intends to build six new facilities over the following five years in addition to performing extensive infrastructure repairs. An integrated paper mill, afforestation initiatives, a paper-based chemical plant, factories for several basic chemicals, and a synthetic polyester fiber facility are among the proposed plants. The Ministry of Industry has already received the investment proposal.

Additionally, a high-level committee has been established by the mill's operator, the Bangladesh Chemical Industries Corporation (BCIC), to restart a factory that uses pulpwood and bamboo to make paper. For the last eight years, the factory has been shut down.

Following the appointment of Mohammad Shahid Ullah as managing director of the paper factory, the rehabilitation plan was approved. Under the current management, the workers and employees have been calling for the mill to be revived.