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Century Plyboards to invest INR 2,000 crore on capacity expansion
Century Plyboards (India) has announced plans to invest nearly INR 2,000 crore over the next three years in expanding its laminates, MDF, and particle board capacities. With this expansion, the company aims to increase its turnover from INR 3,000 crore in FY22 to INR 5,000 crore by FY26, with greenfield projects accounting for the majority of the expansion.
To achieve its goals, the company intends to commission additional MDF plants, investing more than INR 600 crore by the second quarter of 2023-24. It also intends to establish a new greenfield particle board project in Tamil Nadu with an investment of INR 500 crore by March 2025.
Furthermore, Century Plyboards is considering opening a new plywood plant in Hoshiarpur alongside the MDF plant in the second half of FY-24, which could require an investment of INR 100 crore. To achieve its growth objectives, the company intends to expand its product categories and capacities.
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