Greenlam Industries, one of the largest laminate brands of the country has announced its foray into Plywood and Particle Board Business. Alongside, the brand has also announced to set up its third laminate plant. A report by SURFACES REPORTER (SR).
In a statement issued by the company to the National Stock Exchange and Bombay Stock Exchange, the company has announced to set up a Greenfield project for the manufacturing of Particle Board and allied products at Naidupeta, Nellore in Andhra Pradesh with an enhanced capacity from 1.5 million laminate sheets/board per annum to 3.5 million laminate sheets/board per annum. The addition and new unit are being created to cater the growing demands in the domestic and international market.
According to the statement, the existing capacity of Greenlam for Laminates and Allied products is 15.62 million laminate sheets per annum and the proposed capacity enhancement will add around 3.5 mn laminate sheets / boards per annum to its annual capacity. The proposed capacity will be operationalised by 4th quarter of FY 2022-23. This enhancement will require an investment of Rs 225 cr.
For Particle Board and allied products, the proposed capacity is 2,31,000 cubic meters with the investment of Rs 600 cr which will be operational by 4th quarter of FY 2023-24.
Further, the Board of Directors of HG Industries Limited (formerly Himalaya Granites Limited) (HGIL), a subsidiary of Greenlam Industries Limited, at their meeting held on December 13, 2021, has approved to set up a greenfield project for manufacturing of Plywood and allied products at Tindivanam, Tamil Nadu.
The proposed plant will have a capacity of 18.9 mn sq mt with an investment of Rs 125 cr and will be operational by 4th quarter of FY 2022-23. This will cater to the demands of the domestic market. The proposed investment will be raised through a mix of debt and financial support from Greenlam.
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