What's Happening?
Century Plyboards (India) Pvt Ltd, a Kolkata-based manufacturer of plywood and interior infrastructure materials, is exploring the possibility of establishing a new manufacturing unit in Odisha. This move
is aimed at catering to the increasing demand for its products in the eastern region of India. Keshav Bhajanka, the executive director of the company, mentioned that they are considering various opportunities to expand their capacity in this region. Although a definitive plan has not been finalized, the company is seriously contemplating this expansion. Bhajanka recently met with Odisha's Chief Minister, Mohan Charan Majhi, to discuss potential investments and the state's progress in infrastructure and business facilitation. Century Plyboards currently operates eight manufacturing units across India, with two located in the eastern region, specifically in Kolkata and Guwahati. The company has been expanding its capacity in these locations to meet the growing demand, but with a robust 20% growth in business, additional capacity is deemed necessary.
Why It's Important?
The potential establishment of a new manufacturing unit by Century Plyboards in Odisha signifies a strategic move to strengthen its market presence in eastern India. This expansion could lead to increased production capacity, enabling the company to meet the rising demand for its products. For Odisha, attracting such investments aligns with its efforts to enhance industrial growth and improve the ease of doing business in the state. The move could also create job opportunities and contribute to the local economy. As Century Plyboards continues to grow, it reinforces the importance of regional markets in the company's overall strategy, highlighting the significance of infrastructure development and business-friendly policies in attracting investments.
