- CenturyPly to invest INR 1000 Cr in Phase 2.
- Generated 78% local employment in the state and plans to further employ 2000+ people over the next 3 to 5 years.
- Under the current expansion plan of INR 2000 crores, CenturyPly invested INR 1000 crores in Andhra Pradesh.
Century Plyboards (India) Ltd., India’s largest manufacturer of wood panels and decorative industry, today announced the grand inauguration of the company’s largest integrated wood panel manufacturing plant at Badvel, YSR Kadapa district in Andhra Pradesh. The Chief Minister of Andhra Pradesh, Shri Y S Jagan Mohan Reddy, Chairman of CenturyPly, Shri Sajjan Bhajanka along with other notable dignitaries graced the occasion with their presence.
YSR Kadapa district holds an important place on the industrial map of Andhra Pradesh for its valuable repository of resources. As the Government has earmarked this region as a potential agro-industry hub, this initiative of CenturyPly marks the beginning of a series of investments of other industrial entities that will follow leading eventually to making it a significant hub of furniture for the entire country. The company had allocated an investment of close to Rs. 1000 crores for the laminate, MDF and PVC unit in Andhra Pradesh. The first phase of production comprises of 2 large-size press of laminates, which is operational currently. MDF unit and PVC Unit are in the advanced stage of commissioning. In the next 3-5 years, the brand plans to generate direct and indirect employment of 2000+ people in the region of Andhra Pradesh.
This also marks the beginning of realization of Government’s vision of one lac acres of plantation in the YSR Kadapa district that will transform the land with lush flora and fauna. Together with CenturyPly, this move will uplift and lift this district into a new benchmark of sustainable development. Additional capacities are being developed in 3 units with 60,000 CBM in Hoshiarpur, Punjab in the plywood category, in particle board 2,40,000 CBM in Chennai, Tamil Nadu and in laminates 8,55,000 sheets, 3,13,500 CBM in MDF and PVC of 15,000 tonnes in Badvel, Andhra Pradesh respectively.
Speaking on the occasion, Shri Keshav Bhajanka, Executive Director, CenturyPly said, “We are honored to announce, with the support of the Government of Andhra Pradesh, the grand inauguration of the district’s first integrated wood panel manufacturing unit. This will contribute to develop Badvel area into a hub of agroindustry in Andhra Pradesh. We have invested INR 700 crores in MDF and INR 250 crores in laminates and PVC in the first phase. The new unit will increase our production capacity in MDF plant by 950 M3, which will double our footprint in MDF. The second phase will see an investment of INR 1000 crores in expansion plans.
CenturyPly has always been sustainable in its vision and leaves no stone unturned in giving back to the environment. We have already started a robust plantation drive in the region and in the process of supplying 1 crore saplings to the farmers annually and at the same time ensuring buy back from them in the future. We believe in the holistic development of our employees and stakeholders, and we will continue to support institutions in the vicinity of the plant and other areas for a better future.
The Company holds an optimistic view of its prospects, underpinned by its robust brand recognition, imminent capacity expansion, consistent product innovation and widening distribution channels, all contributing to an enhanced level of service excellence. This plant is sure to add a feather of success to our brand journey.”