Mumbai-based Bio Green Industries Ltd, the parent Company of its wholly owned subsidiary Bio Green Papers Ltd, has signed a supply chain management agreement with Sundaram Multi Pap Ltd, for the procurement of raw material supply chain management.

The company officials believe that with latest agreement; they expect a monthly production of 1000 to 12000 tons of Kraft Paper used by Packaging Industry.

Presently, Bio Green Papers Ltd, has 40 TPD capacity of Kraft Paper and 40 TPD of Duplex Facilities.

After the positive announcement, the scrip of Bio Green Industries surged to Rs 9.54 on BSE, up 5 per cent compared to previous close of Rs 9.09.

The stock has made 52-week-high and low of Rs 198 and Rs 8 respectively.