Century Plyboards India Ltd lays foundation stone for new plant at Gopavaram, Andhra Pradesh

Century Plyboards (India) Ltd has announced that the foundation stone for the company's greenfield wood panel manufacturing project was laid yesterday at Gopavaram, Kadapa District in Andhra Pradesh amidst the august presence of Hon'ble Chief Minister of Andhra Pradesh Shri Y. S.R. Jagan Mohan Reddy and other dignitaries. This region has been earmarked as a potential agro-industry hub. The project is being undertaken by the Company through its wholly owned Subsidiary, Century Panels Limited.

The Company aims to develop this project as the largest integrated wood panel manufacturing unit, covering MDF, Laminates, Plywood and Particle Board with investments of more than Rs. 1500 crore in a phased manner and expects first phase production to start within March, 2023.

The project is designed to provide direct employment to over 2000 people and indirect employment to over 5000. Apart from this, the local farmers will be the largest beneficiaries of this project as much of the required raw materials would be sourced from them.

Shares of Century Plyboards (India) Limited was last trading in BSE at Rs. 583.30 as compared to the previous close of Rs. 576.65. The total number of shares traded during the day was 14911 in over 1168 trades.

The stock hit an intraday high of Rs. 602.10 and intraday low of 579.15. The net turnover during the day was Rs. 8813590.00.

Source : Equity Bulls

Keywords

CenturyPlyboardsIndia INE348B01021 FoundationStone MDFPlant Gopavaram KadapaDistrict AndhraPradesh NewPlant