Century Plyboards (India) Ltd has planned to set up a medium density fibreboards manufacturing unit in Hoshiarpur, Punjab. Sanjay Agarwal, MD, told BusinessLine that the Rs. 440-crore project would be completed by the end of the current financial year.
The project will mark the entry of the company into the MDF space; MDF is an alternative to plyboards in furniture making, and building of partition or ceiling panels. The company has purchased 32 acres of private land for the project. The project will have a capacity to produce 1.98 lakh cubic metres-a-year of MDF. It will also have a plywood and block board unit with an initial capacity of 17,000 cubic metres. Agarwal said the company plans to enhance the plywood manufacturing capacity at the Hoshiarpur project to 51,000 cubic metres by the middle of 2017-18. “We have obtained permission for the plywood manufacturing unit based on the local agro-forestry based resources,” he explained.