India, April 1 -- ITC Limited has signed a Business Transfer Agreement on Monday to acquire the Pulp and Paper Undertaking ('CPP') of Aditya Birla Real Estate Limited ('ABREL').

Established in 1984 at Lalkuan (Nainital, Uttarakhand), CPP is a well-established player in the Indian Paper industry with an installed capacity of 4.8 Lakh MT per annum.

India's per capita consumption at appx. 16 Kg. per annum is low as compared to the global average of 57 Kg., reflecting immense headroom for growth.

India is one of the fastest growing markets in the world with demand for paper and paperboards growing at 6%-7% p.a., translating to incremental demand of over 1 million MT annually.

ITC's Paperboards & Specialty Papers Business is a reputable pl...