Minister of State for Food Processing Industries and MP from Dibrugarh Rameswar Teli on October 18th, 2019 announced that the paper mills located in Nagaon and Cachar district of Assam will start its operations very soon.
The Union Minister informed that he requested Indian-born billionaire businessman Bavaguthu Raghuram Shetty to invest in Assam during his Abu Dhabi trip. Teli informed that the Shetty has shown keen interest to his proposal.
Shetty is the founder of a number of companies based in the United Arab Emirates and the chairman of UAE Exchange. Shetty has already purchased sixteen tea gardens of Assam. Shetty will also set up world-class hospitals and luxury resorts in the state.
It may be mentioned, a three-judge bench of the National Company Law Appellate Tribunal on May 29th, 2019 has ordered to make the Nagaon and Cachar paper mills functional, which have been non-functional since March 2017 and October 2015 respectively.