Oct 10, 2006. /Lesprom Network/. The diversified company of the C K Birla group, Orient Paper & Industries Ltd (Opil), is planning to invest INR 2.5 billion ($54.6 million) in next one year to step up its cement, paper and fans capacity, Business Standard reported. The majority of the expansion would be funded by a rights issue. Opil is hoping to raise INR 1.8 billion ($39.3 million) through the rights issue. The rest would be funded through internal accruals and borrowings. M L Pachisia, managing director, Opil, said after the board meeting of the company here on Thursday that it had decided to raise the paper capacity to 110 000 tonne a year from the present level of 85 000 tonne. "We shall add 20 000 tonnes in our existing paper unit in Madhya Pradesh. The new addition will be for tissue papers," he said. The company would invest close to INR 570 million ($12.5 million) for adding the paper capacity, he said. "The paper industry is going through a good cycle after a prolonged bad cycle. We want to utilize that," he said.