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Greenply Industries to set up manufacturing facility in Uttar Pradesh

Monday, 10 May 2021
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The Board of Directors of the Greenply Industries at its meeting held on 10 May 2021 has incorporation of a wholly-owned subsidiary of the company in India for manufacturing plywood and its allied products. 
 
The Board also gave nod for setting-up a new unit at Sandila Industrial Area, Sandila, in Hardoi district of Uttar Pradesh, for manufacturing of plywood and its allied products by the proposed wholly-owned subsidiary. 
 
The existing capacity of the company for plywood and its allied products is 24.90 million sq mtr per annum, while the proposed capacity addition by the wholly-owned subsidiary is 13.50 million sq mtr per annum.
 
The existing capacity utilisation for plywood and its allied products is 142 percent for the year ended March 2020. 
 
The project will see an investment around Rs 75 crore (excluding cost of land and license approximately Rs 40 crore). The new project would be financed through debt and equity. The plant is expected to be operational by Q4/FY 22.
 
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