Singapore-based USG Boral, engaged in manufacture of plasterboards, today conducted the ground breaking ceremony for its third manufacturing facility near here, to be set up at an investment of USD 39 million (about Rs 300 crore).
The company, currently has a manufacturing facility at Khushkhera in Rajasthan and a fully automated joint compound and wall putty production unit at Sholavaram near here.
"We are building new capacity at this place (Sri City SEZ, Tada). This is our third facility. We conducted the ground breaking ceremony this morning", USG Boral, CEO, Frederic de Rougemont told reporters here.
He said the company would hire more than 100 people once the facility becomes operational by the end of 2019.
The plasterboard industry was growing comparatively faster than the construction sector, he said.
USG Boral, India, CEO, Sumit Bidani said the new facility proposed would be spread across 30 million square metres at the Sri City Special Economic Zone, which was "three times bigger" than the company's Rajasthan unit.
"We can also double the capacity there. There is enough space to expand," he added.
Responding to a query, he said, the company holds 25 per cent market share globally and 65 per cent of the business was contributed from Asia while 35 per cent was from Australia.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)