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Century Plyboards (India) announced that the foundation stone
for the company's greenfield wood panel manufacturing project was laid on 23 December 2021 at Gopavaram, Kadapa District in Andhra Pradesh. 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.
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.
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