HomeBrand UpdatesGreenply to set up MDF manufacturing unit

Greenply to set up MDF manufacturing unit

Greenply Industries Limited, India’s leading plywood manufacturing company, will be setting up a Medium Density Fiber (MDF) boards manufacturing unit. The greenfield manufacturing plant would be setup in Vadodara District, Gujarat with an estimated cost of Rs. 548 Crore. For this purpose, the company has acquired Baahu Panels Pvt Ltd as a wholly owned subsidiary.

The plant with an installed capacity of 800 cubic meter (CBM) per day would have the revenue potential of Rs. 600-650 Crore per annum at its peak utilisation. The plant is expected to commence operations by Q4FY23. The company has plans to produce all products sub-categories of MDF including thin & thick, prelam and other value-added products in phased manner.

Commenting on the announcement, Manoj Tulsian, CEO & JMD, said, “With the change in consumers demand in the current scenario, MDF industry is expected to grow rapidly due to its versatile application and this trend is here to persist. This investment will help us to capitalize on this long-term opportunity and establish our leadership in western untapped market. The plant is strategically located in the agricultural belt that ensures easy procurement of raw materials and has proximity to seaports and highways. With the rich experience of the management in wood panel Industry for more than 30 years, we are expanding our product portfolio to serve diverse industries.”

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