Greenply Industries has forayed into medium density fibreboards (MDF) business. The company will set up a plant in Gujarat's Vadodara with capital expenditure of Rs 548 crore for the purpose. The greenfield facility is likely to commence operations in the last quarter of the 2022-23 fiscal.
The plant with an installed capacity of 800 cubic metre (CBM) per day will have a revenue potential of Rs 600-650 crore per annum at its peak utilization. The company has plans to produce all categories of MDF and other value-added products in a phased manner.
Greenply Industries is primarily involved in manufacturing of plywood and trading of plywood and allied products.
