Greenply Industries
The Greenply Industries Ltd in a recent announcement has said that it has decided to set up a new plant at an investment of Rs. 350cr at Chittoor area in Andhra Pradesh said sources, claiming that the construction work for the new plant for medium density fibre board (MDF) with a capacity of 600 cubic metres of MDF per day, is all set to start very shortly and will become fully operational by 2017. However, the Chief Financial Officer, V Ventatramani remained tight lipped over the quantum of investment but admitted that the player acquired nearly 104 acres of land in Chittoor district and currently awaiting mandatory clearance from the state's agencies.

Meanwhile the company is likely to start commercial production of value-added products, including high-density and high-gloss MDF laminated boards and flooring from its Pantnagar facility in Uttarakhand, in August this year. In addition, Greenply has submitted an application to the Myanmar Investment Commission for setting up a veneer or a veneer-cu‎m-plywood unit in the country through a subsidiary. Myanmar, which has so far been exporting wood, now plans to export value-added products. About 12-15% of Greenply's raw material requirements are met through imports from Myanmar. The subsidiary will ensure steady supply of raw material.