Orient Paper project approved by UNFCCC for CER

Orient Paper & Industries Ltd has announced that the Board of Directors of the Company at its meeting held on April 30, 2007, inter alia, has recommended payment of dividend on 20,00,000 Preference Shares of Rs 100/- each @ 12% per annum for the period January 01, 2007 to March 31, 2007. It may be noted that the Dividend on Preference Shares for the period April 01, 2006 to December 31, 2006 was declared and paid during the year by the Company.

Further the Company has informed that, the Company's Cement Divisions Carbon Emission Reduction (CER) project has been registered and fully approved by United Nations Framework Convention of Climatic Change (UNFCCC). The Company has already received 96310 units of CERs, valued at appx. Rs 6.42 Crores for activities undertaken up to March 31, 2006.

Source : Equity Bulls

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