Business Companies 25 Dec 2021 CenturyPly to set up ...

CenturyPly to set up biggest plant in YSR Kadapa district

DECCAN CHRONICLE.
Published Dec 25, 2021, 8:16 am IST
Updated Dec 25, 2021, 1:07 pm IST
The plant is expected to transform the business scenario in the region with the company investing Rs 800 crore in Phase 1
One of the biggest beneficiaries of this investment will be the local farmers; the company planning to purchase locally produced raw material directly from them and will increase the realisations to farmers by at least 50 per cent right from day one of operations, it said. —  Twitter
 One of the biggest beneficiaries of this investment will be the local farmers; the company planning to purchase locally produced raw material directly from them and will increase the realisations to farmers by at least 50 per cent right from day one of operations, it said. — Twitter

Century Plyboard (India) Limited, the country’s largest manufacturer of wood panel and decoratives, has said it is setting up its largest plant at Gopavaram, in YSR Kadapa district of Andhra Pradesh. The foundation stone for the new plant was laid on Thursday in the presence of Chief Minister Y.S. Jagan Mohan Reddy, AP industries minister Mekapati Goutham Reddy and the Special Chief Secretary, industries, R. Karikal Valaven.

The plant is expected to transform the business scenario in the region with the company investing Rs 800 crore in Phase 1 of a planned project investment of Rs 1,600 crore, leading to direct and indirect employment of 2,000 and 4,000 people.

 

One of the biggest beneficiaries of this investment will be the local farmers; the company planning to purchase locally produced raw material directly from them and will increase the realisations to farmers by at least 50 per cent right from day one of operations, it said.

This will also mark the beginning of realization of the AP Government’s vision of planting trees in one lakh acres in Gopavaram district, the company said.

Speaking on the occasion, Sajjan Bhajanka, Chairman, CenturyPly, said, “we are honoured to collaborate with the Government of Andhra Pradesh to establish the district’s first wood panel manufacturing plant and contribute in developing Gopavaram into the hub of agroindustry In Andhra Pradesh. We are investing Rs 600 crore in MDF and another Rs 200 crore in laminates in the first phase. The second phase will see an investment of Rs 200 crore in plywood and Rs 600 crore in particle board business. The construction is expected to be completed by December 2024.”

 

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