Visaka Industries Ltd Tuesday said it was planning toset up a new manufacturing facility for Vnext range of plywood and gypsum plaster boards at an unfinalised location in Tamil Naduat an outlay of Rs 100 crore.
According to a press release issued by the company, with the new plant which would be completed in 15 months, the capacity goes up to 2.20 lakh tonnes per annum to 1.70 lakh tonnes.
Currently, Vnext plants are operational in Telangana, Maharashtra, and Haryana.
Vnext's range of products are designed to substitute plywood and gypsum plaster boards with eco-friendly, modern and sustainable materials, it said.
Vnext board a non-asbestos, autoclaved fibre cement board is fire, water and termite resistant, which makes it ideal for long-lasting, sturdy and hazard-free construction.
Joint Managing Director of Visaka Industries,Vamsi Gaddam said, "Vnext's new plant in Tamil Nadu is a part of our expansion plans of the Vnext division. The new plant is a strategic step by Visaka Industries to supply to the growing market demands of Vnext board."