Century Plyboards India Ltd, a leading manufacturer of plywood, black board and particle board in the country, has outlined plans to invest Rs 1,000 crore in setting up a Greenfield plant at Badvel in YSR Kadapa district of Andhra Pradesh.
A delegation of Century Plyboards, led by its CMD Mr Sajjan Bhajanka, ED Mr Keshav Bhajanka along with the Company representative Mr Himanshu Shah met with Chief Minister YS Jagan Mohan Reddy at the camp office and discussed their plans, as per report.
The proposed Rs 1,000 crore three-phase plant is expected to create direct employment to over 3,000 and indirect employment for about 6,000 people. The construction work will start immediately and the first phase of operations will begin by December 2022.
Mr. Bhajanka told the Chief Minister that the total project development is expected to be completed by December 2024 in three phases. In the first phase, the company will have a production capacity of 4,00,000 metric tons per annum and will go up to 10,00,000 metric tons by the end of the third phase.
The company plans to encourage farmers to grow eucalyptus trees and give a remunerative price, they said. Century Plyboards already has units in West Bengal, Tamil Nadu, Haryana, Assam, Gujarat, Punjab and Uttarakhand.