Industry

Century Plyboards to harness solar power

Move to cut cost, boost profitability

Century Plyboards (India) Ltd. (CPIL) is looking to cut costs and boost profitability by harnessing solar power at its units.

It has already set up a one MW power plant at Chennai and is planning to add 4 MW across its various plants.

Sajjan Bhajanka, chairman, CPIL, said in a statement that this was among the cost-cutting measures initiated by the company.

The company has manufacturing units in Kolkata, Chennai, Guwahati, Karnal, Kandla, Hoshiarpur, Myanmar and Laos, positioning itself as a one-stop brand offering plywood, MDFs, particle boards, PVC boards fibre cement boards and face-veneers. The company also operates a container freight station.

More solar capacity

Sanjay Agarwal, managing director, told The Hindu that while ₹5 crore has been invested in the Chennai solar unit, CPIL has earmarked about ₹35 crore this fiscal for setting up more solar capacities.

Its total daily power requirement was 20 MW and annual saving of ₹5 crore was envisaged through the harnessing of solar energy. Rooftop solar panels would be installed at Guwahati, Karnal, Kolkata and Hoshiarpur with a six-year payback period.

CPIL, which has a 25 % share of the ₹4,000 crore organised plywood and decorative veneer market, started operations at its Hoshiarpur unit where it has set up a medium-density fibre board making facility. This unit achieved over 50% capacity utilisation within a year, generating revenues of ₹113 crore and is expected to touch 85% capacity utilisation this fiscal, the company said. The Punjab capacity is 1.98 lakh cubic metres out of a 10 lakh cubic metre national capacity for MDF, a cheaper plywood alternative.

CPIL has also introduced innovations like finger-print resistant laminates and fragrant laminates to strengthen its product mix.

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Printable version | May 30, 2020 9:16:42 AM | https://www.thehindu.com/business/Industry/century-plyboards-to-harness-solar-power/article24969793.ece

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