Greenply Industries is planning to set-up a greenfield unit for manufacturing medium density fibreboards in Chittoor district of Andhra Pradesh (AP). The plant would have a capacity of producing 3 to 3.6 lakh cubic metres MDF a year.
In this regards, the company has acquired 106 acres 45 km off Tirupati. It is now in the process of placing orders for the machinery. The company is expecting to start the construction work as well installation of machinery within a year from now.
Further, the company is planning to raise fresh debt of around Rs 300 crore for the project. The company is planning to fund half of the project cost through fresh debt.
Greenply Industries is engaged in manufacturing of plywood, laminates, decorative veneers, particle boards and prelam particle boards/MDF.
