Kolkata based Co to invest Addl. Rs 1000 crs in Phase 2
India’s largest manufacturer of wood panel and decorative industry, Century Plyboards (India) Ltd., recently announced the inauguration of the company’s largest integrated wood panel manufacturing plant at Badvel, YSR Kadapa district in Andhra Pradesh.
The Chief Minister of Andhra Pradesh, Mr Y S Jagan Mohan Reddy along with Chairman of CenturyPly, Mr Sajjan Bhajanka and other notable dignitaries participated in the inauguration.
YSR Kadapa district holds an important place on the industrial map of Andhra Pradesh for its valuable repository of resources.
As the Government has earmarked this region as a potential agro industry hub, this initiative of CenturyPly marks the beginning of a series of investments of other industrial entities that will follow, leading eventually to making it a significant hub of furniture for the entire country, said the Kolkata headquartered company in an official release.
It further added that the company had allocated another investment of close to Rs. 1000 crores for the laminate, MDF and PVC unit in Andhra Pradesh.
The first phase of production comprises 2 large size presses of laminates, which is operational currently.
MDF unit and PVC Unit are in the advanced phases of commissioning. In the next 3-5 years, the brand plans to generate direct and indirect employment of 2000+ people in the region of Andhra Pradesh.
This also marks the beginning of realization of the Government’s vision of one lac acres of plantation in the YSR Kadapa district that will transform the land with lush flora and fauna.
Together with CenturyPly, this move will uplift and lift this district into a new benchmark of sustainable development.
Speaking on the occasion, Mr Keshav Bhajanka, Executive Director, CenturyPly said, “This manufacturing unit will contribute to develop Badvel area into a hub of agroindustry in Andhra Pradesh.
We have invested INR 700 crores in MDF and INR 250 crores in laminates and PVC in the first phase.
The new unit will increase our production capacity in the MDF plant by 950 M3, which will double our footprint in MDF. The second phase will see an investment of INR 1000 crores in expansion plans.
Additional capacities are being developed in 3 units with 60,000 CBM in Hoshiarpur, Punjab in plywood category, in particle board 2,40,000 CBM in Chennai, Tamil Nadu and in laminates 8,55,000 sheets, 3,13,500 CBM in MDF and PVC of 15,000 tonnes in Badvel, Andhra Pradesh respectively said the release from CenturyPly.
It further added that CenturyPly has always been sustainable in its vision and that it has already started a robust plantation drive in the region and in the process of supplying 1 crore saplings to the farmers annually and at the same time ensuring buy back from them in the future.
