Everest Industries has received approval for Capital expenditure (CAPEX) of Rs 187 crore to set up a new Boards and Panels plant through a wholly owned subsidiary or by the Company at KIADB Industrial Area at Chamarajanagar District, Karnataka (instead of Immavu Industrial Area, Mysuru District, Karnataka) subject to the receipt of requisite approvals. The Board of Directors of the company at their meeting held on February 7, 2023 approved the same.
The said CAPEX would enhance the existing capacity of 210,000 MTPA to 301,000 MTPA for Boards and Panels. It is expected that said CAPEX would be operational by June 30, 2024. The CAPEX would be funded by a mix of internal accruals and debt.
Everest Industries (EIL) is one of India’s fastest growing building solutions company. The company provides the world-class building solutions to meet construction requirements, in the Industrial, commercial and residential sectors.
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