For setting third laminate plant and its foray into plywood and particle board business
Greenlam Industries announced prominent plans for a fast-tracked expansion of the company. The company aims to invest Rs.950 crore over a period of 2-3 years, towards setting up of third Laminate plant and foray into Plywood and Particle Board business.The investments in third Laminate plant and Particle Board will be done under Greenlam South, a 100% subsidiary of Greenlam Industries based at Naidupeta, in Andhra Pradesh. The company will invest in latest technology, equipment and new generation machinery to manufacture Particle Boards with a capacity of 231000 CBM per annum at an investment of Rs.600 crore. The company shall set up laminate capacity of 3.5 mn sheets & boards per annum at an investment of Rs.225 crores. This state-ofthe-art integrated facility will be first of its kind in the industry providing matching decors for laminates, compacts, post forming laminate and prelam particle boards, thereby providing holistic surfacing & substrate solution to the customers.
The dedicated Plywood manufacturing facility will come under the newly acquired subsidiary HG Industries based at Tindivanam, Tamil Nadu, having a capacity of 18.9 mn sqm. per annum with a Capex of Rs.125 crore.
Greenlam expects to commence the commercial production of Plywood & Laminate by Q4FY23 and Particle Board by Q4FY24.
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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)
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