CM YS Jagan Mohan Reddy lays foundation stone for Century Plyboards manufacturing plant

• Chief Minister YS Jagan Mohan Reddy lays foundation stone for CenturyPly’s largest integrated wood panel manufacturing unit at Gopavaram, Andhra Pradesh
• CenturyPly to invest 800 Cr INR in Phase 1 of total project estimation of 1600 Cr INR
• Generate direct and indirect employment of 2000 to 4000
• Farmer realization likely to increase by minimum 50%
• Gopavaram looks forward to being an agro-industrial hub

India, December 23, 2021: Century Plyboards (India) Ltd., India’s largest manufacturer of wood panel and decorative industry, today announced the foundation stone laying of the company’s new and largest intergrated wood panel manufacturing plant at Gopavaram, YSR Kadapa district, Andhra Pradesh. The Chief Minister of Andhra Pradesh, Y S Jagan Mohan Reddy along with Minister of Industries, Commerce and Information Technology, Govt. of Andhra Pradesh Mekapati Goutham Reddy and the Special Chief Secretary to Government, Industries and Commerce R. Karikal Valaven along with other dignitaries graced the occasion with their presence.

YSR Kadapa district holds an important place on the industrial map of Andhra Pradesh for its valuable repository of resources. As the Government has earmarked this region as a potential agro industry hub, this initiative of CenturyPly marks the beginning of a series of investment of other industrial entities that will follow leading eventually to a making this a significant hub of furniture for the entire country.

CenturyPly’s newly build plant, planned to be its largest globally will transform the business scenario in the region. They will invest 800 Cr INR in Phase 1 of a planned project investment of 1600 Cr INR leading to direct and indirect employment of 2000 and 4000 people.

One of the biggest beneficiaries of this significant investment will be the local farmers. CenturyPly will purchase the locally produced raw material directly from them and will increase the realizations to farmers by at least 50% right from Day 1 of operations.

This also marks the beginning of realization of Governments vision of one lac acres of plantation in the Gopavaram district that will transform it entirely to lush flora and fauna land and together with CenturyPly, will uplift and move this district into a new benchmark of sustainable development.

Speaking on the occasion, Sajjan Bhajanka, Chairman, CenturyPly said, “We are honored to collaborate with the Government of Andhra Pradesh to establish the district’s first wood panel manufacturing plant and contribute in developing Gopavaram into the hub of agroindustry In Andhra Pradesh, we are investing 600 crore in MDF and another 200 crore in laminates in the first phase. The second phase will see an investment of 200 crore in plywood and 600 crore in particle board business. All phases put together, there will be employment opportunity of more than 2000 direct jobs and 4000 indirect jobs. The construction is expected to be completed by December 2024.”