Mumbai, Sep 10 (UNI) Greenply Industries Ltd, (GIL) a leader in plywood and laminate industry in India, today laid the foundation stone of its MDF factory in Rudrapur, Uttarakhand next to its existing plant.
The plant, which will be set up at an estimated cost of Rs 250 crore, is expected to start commercial production by end of fourth quarter Finanacial Year 09-10. The plant and technology have been sourced from Ms Dieffenbacher of Germany, world leader in Medium Density Fibre (MDF) plants having more than 100 installations world over.
In a statement here today, GIL Executive Director Shobhan Mittal said ''The MDF market in India is growing at a rate of 30 per cent per annum. The present demand for MDF is 4,00,000 cbm per year out of which 30-40 per cent is domestic production and 60-70 per cent is imported. It is a matter of pride for us at GIL that this plant aims to be the largest MDF plant in the country. It will also result in doubling India's existing production capacity and reduce the market's dependence on imports''.
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