Seshasayee Paper and Boards Limited has informed that the board of directors of the company at its meeting approved the funding of the Project, Mill Development Plan - III (MDP - Ill) at Unit: Erode with a Debt of 30% of the estimated Net Capital Cost of the Project (Net Capital Cost is estimated at275 crores - i.e. Total Project Cost of ~ 315 crores Less: Estimated Input Credit of ~ 40 crores). Debt Component accordingly represents ~ 82.50 crores out of the Project Cost and balance will be funded by Internal Accruals. The said borrowing, inclusive of existing Outstanding of Term Loan, is wellwithin the overall borrowing powers approved by the shareholders of the Company.

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