PSU reconstruction board recommends Rs 257-cr financial package for NEPA

NEW DELHI: The Board for Reconstruction of Public Sector Enterprises (BRPSE), has recommended Rs 257-crore financial package to NEPA Ltd (National Newsprint and Paper Mills Ltd), a public sector enterprise under the control of the Ministry of Heavy Industries and Public Enterprises.

The development comes close on the heels after government defers its plan to sell the majority stake in the company and revive it through a joint venture with the private sector. Presenrly, government holds 97.75 per cent in NEPA.

The board has urged the Department of Heavy Industry to infuse Rs 175 crore in the form of fresh equity so as to meet part-finance of total expenditure of Rs 318 crore for Revival and Mill Development Plan (RMDP).