The ₹130-crore greenfield project of Greenlam Industries Ltd. to make plywood and allied products at Tindivanam in Tamil Nadu went on stream on Friday.
Among the world’s top three largest laminate manufacturers, Greenlam said it had floated a subsidiary called HG Industries Ltd. with an estimated investment of ₹125 crore. The total capex incurred on the project stood at ₹130 crore till commencement of the commercial production, it said in a regulatory filing.
The new manufacturing facility has an installed capacity of 18.9 million square metre per annum. At full capacity utilisation, the new unit had the potential to generate revenue of ₹400 crore per annum. The product would be marketed under the MikasaPly brand.
