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History of Annapurna Foils Ltd.

The Comp. was incorporated in 1979 as a joint venture between Andhra Pradesh Industrial Corporation [APIDCs] & a private entrepreneur from Hyderabad, for manufacture of 1,500 tpa of aluminium foils & its converted products. The plant made no progress till 1981 as it was found to be unviable due to its low capacity. Since the capacity of plant was revised to 3,000 tpa in 1981. The original promoter abandoned the project on Acc. of its large capital outlay & T Chandrasekhar Reddy acquired the rights of Company. Davy Asnnore [Indias] Limited, was appointed for preparation of feasibility report in 1982.

The Comp. signed an agreement with New Hunter Engineering Spa., Italy [NHEs] for supply, erection, commissioning of entire plant & for provision of technical know how.

During 1989-90, the Comp. came under the provisions of above mentioned Act & reference was made to the Board for Industrial & Financial Reconstruction [BIFRs].