Century Plyboards to set up its largest factory in Punjab

Chandigarh, Apr 14 (UNI) Century Plyboards (I) Ltd, a leading plywood and veneer manufacturer of the country, will set up India's largest plywood factory of 40,320 CBM Plywood manufacturing capacity in Punjab.

In a company release issued here today, CPIL MD Sajjan Bhajanka said that the proposed factory would surpass the record of its own existing factory at Joka near Kolkata.

''The company is also entering in the manufacturing of MDF (Medium Density Fiber Board) in a big way as the demand for this is increasing tremendously and a huge market is in the offing,'' he said adding that the company had received a clearance from CEC (Centrally empowered committee) to set up MDF plants in Punjab and Uttarakhand.

The proposed MDF facility at Punjab and Uttarakhand will have installed capacity of 60,000 cbm per annum each. This will involve capex of approx Rs 200 crore.

''CPIL's proposed MDF plants will reduce India's dependence on imported MDF and take the country a step forward in becoming self sufficient. This will also encourage eco-friendly agro-forestry, beneficial to farmers and environment.'' ''The company is entering in the manufacturing of MDF because this is the most economic and cost effective substitute of the entire available timber panel product,'' he said.

''CPIL intends to set up six more such plants in different states over next few years to meet future demand, Mr Bhajanka added.

UNI PS JMK PBB VC1716