Plywood manufacturer Century Plyboards (India) Ltd has entered into a tie up with a Chinese door manufacturing company Goldea for making doors and frames.
“We have formed a 60:40 joint venture with a Chinese company, Goldea, for manufacturing doors and frames. We will hold 60 % in the JV. Balance 40 % will be held by the Chinese partner,” CenturyPly chairman Sajjan Bhajanka told mediapersons after the company’s annual general meeting held in Kolkata on Friday.
He said a new plant for doors and frames will come up close to the company’s medium-density fibreboard (MDF) facility at Hoshiarpur, Punjab, entailing an investment of Rs 400 crore. The MDF would be used as the raw materials for the manufacturing of the doors, he said, adding that the company is in the process of acquiring some more land nearby its MDF plant for setting up the new door plant. The MDF plant, with a capacity of 1,98,000 cubic metre, has started trial production and is likely to begin commercial production in the next few months.
CenturyPly will initially spend about Rs 80 crore on the doors plant, which will have a capacity to produce 2,000 doors a day in the first phase, Bhajanka said, adding, it could increase to 6,000 doors a day in later phases. Read More…
Credit By: ET
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