Plywood and laminate manufacturing major Greenply Industries is planning to invest Rs 370 crore to set up the country's two largest laminate and multi density fibreboard (MDF) plants by end of 2009.
While the laminate plant at Himachal Pradesh would have a production capacity of 3 crore sheets of laminate annually, another plant at Uttarakhand would produce 1.8 lakh square metre of MDF every year.
"These would be the largest plants for production of laminate and MDF in India once they become operational by end of next year. We currently produce 53.4 lakh sheets of laminate in our existing plants which is 15 per cent of the organised market, while almost all MDF used in India is of imported brand," Greenply Joint Managing Director Saurabh Mittal said.
He said Greenply has presently five manufacturing units in Rajasthan, Uttarakhand, Gujarat, West Bengal and Nagaland.
The company produces 2.4 crore square metre of plywood, 53.4 lakh sheets of laminate, 42 lakh square metre of veneer and 24 lakh square metre of particle board annually.
"We are aiming for a Rs 400 crore revenue in the MDF category over next three years. In laminate we had a revenue of Rs 286 crore last fiscal and are looking to grow annually at 30 to 35 per cent," Mittal said.
The company is also looking at increasing its dealership size from the present 9,000 to 20,000 over next three years across the country.