DIMAPUR — The Tuli Paper Mill is poised for a revival as initial restoration work gets underway, spearheaded by its new majority owner, 3A Capital Services Limited (3ACSL).
An update from the state DIPR on Monday stated that following the acquisition of Nagaland Pulp and Paper Company Ltd, 3ACSL has deployed personnel to the mill site to begin a comprehensive audit.
“According to one of its officials, the company is currently at the audit phase to clear the pending liabilities of the previous employees of the mill and hoped to complete it by the end of the year so that restoration and revival works can begin extensively,” the update stated.
Further, the state government, which previously owned 12% of the mill, is now left with only 3.51%, while the Mumbai-based private firm 3ACSL owns the lion's share of 96.49%, it added.