Goldman Sachs invests in JK Paper Ltd

Goldman Sachs invests in JK Paper Ltd

JK Paper Ltd has said in a statement that Goldman Sachs has invested as much as 17 million dollars in the company. They would be using this invested money to part finance its 60,000 tonnes per annum packaging board project.

This project is due to begin in the first quarter of 2007. JK Paper added that this investment came through the Mauritius unit of Goldman Sachs.

JK Paper Ltd managing director Harsh Pati Singhania said in a statement: “After IFC Washington’s investment at Rs 65 per share, we are pleased to add another quality investor like Goldman Sachs as a partner in our growth. With this, the company has concluded its equity raising programme for the current expansion.”

JK Paper also just recently concluded a USD 12 million GDR issue and a USD five million unsecured foreign currency convertible bonds issue.