Production has stabilised at Tamil Nadu Newsprint and Papers Ltd’s (TNPL) 2-lakh-tonnes-a-year packaging board plant which started commercial production in May. Between May and August production was the equivalent of about 47 per cent and increasing steadily, said Vikram Kapur, TNPL Chairman and Managing Director.

According to a copy of his speech at the AGM on Thursday, TNPL, which has a total annual production capacity of 6 lakh tonnes a year including a 4-lakh-tonne printing and writing paper plant, has seen its market capitalisation increase to ₹2,387 crore as of August, compared with ₹873 crore in March 2015.

The packaging board plant was test run from January-February up to April this year. Production is expected to improve from October 2016.

Two downstream conversion units have taken up space at TNPL’s Centre for Conversion of Paper and Packaging Board in Karur district. A PE coating unit and one core manufacturing unit have been set up at the 38-acre facility which can accommodate more units.