Leading plywood maker Century Ply has come forward to make huge investments in Andhra Pradesh.As per the reports, Century Ply will set up a manufacturing unit in the Badvel constituency of the YSR district with an investment of Rs 1,000 crore.
Against this backdrop, recently, the representatives of Century Plyboards India Limited met Andhra Pradesh Chief Minister YS Jaganmohan Reddy at the camp office in Tadepalli.
Century Ply is the largest industry in India in the manufacture of plywood, blackboard, medium-density fiberboard and particleboard.
The Century Ply will set up a manufacturing unit in Badvel in three phases.The first phase is expected to start immediately and start production on it by December next year.
However, the construction of all three phases will be completed by 2024.A manufacturing unit with a production capacity of 4 lakh tonnes will be set up in the first phase.
The production capacity would reach 10 lakh tonnes by 2024.
Company representatives told the chief minister that the unit would directly employ 3,000 people and indirectly employ 6,000 people.
Among those who met the Chief Minister were CMD Sajjan Bhajanka, ED Keshav Bhajanka, company spokesperson Himanshu Shah and State Industries Department Special CS R Karikala Valavan.
