Century Plyboards (India) Ltd proposes to invest around 550 crore in the construction of a new particle board manufacturing facility in Tamil Nadu. By FY25, it hopes to increase capacity by 3,60,000 cubic metres (CBM) annually.
Its current particle board production capacity is close to 75,000 CBM annually, and for the year that ended in March 2022, capacity utilisation was 97%.
KeshavBhajanka, Executive Director of CenturyPly, claims that the business has acquired roughly 30 acres of land in Chennai to build the unit.
“We had decided to come up with a particle board unit in UP long time ago. However, it could not move ahead with the plan due to some licensing issues but that has now been cleared. So we are just seeing whether to set up the plant in UP or Tamil Nadu. We are hopeful of firming up our plans by the end of this fiscal,” Bhajanka said.
