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Century Ply plans to open Rs 400 cr plant in Andhra

Mar 21 2012 , Kolkata , The Rs 1600-crore Century Plyboards, one of the market leaders in the Rs 18,000 crore plywood industry in India, will now put up a medium density fibre board (MDF) manufacturing unit at Nellore in Andhra Pradesh with a total capital outlay of Rs 400 crore.

The company has already acquired the required land and is in the process of finalising plant and machinery contracts. “We hope to finalise everything by June and then it should take another 18-20 months to commission the plant. The fully automated unit will have a capacity of 600 metre per day of MDF board,” Sanjay Agarwal, managing director, Century Plyboards, told Financial Chronicle. Once commercially commissioned the MDF boards will be marketed under Century MDF brand name.

The company has also drawn up plans to get into the fast growing branded furniture business with a separate sub-brand under the umbrella brand of ‘Century’. “Initially we will be importing them from countries like China, Malaysia, Thailand. But once we learn the business, we would like to have our own manufacturing facility in this country. We will also have our own retail outlets – to start with, in Bangalore and Kolkata,” he said. While focusing on MDF board and furniture business, the company is not moving away from its traditional core area-plywood. “We are in fact, expanding our plyboard capacity from the present level of 3 million sqm per month to 4 million sqm per month by the end of the 2012 calendar. We are also coming up with a new facility at Kandla. Total investment in plyboard business will be in the tune of Rs 50 crore,” said Agarwal. The retail presence will also be raised from 4000 outlets to 7000 outlets in next one year, he said.

Source:http://www.mydigitalfc.com