Kolkata-based Century Plyboards (India) Pvt Ltd, a prominent manufacturer of plywood and interior infrastructure materials, is actively considering the establishment of a new manufacturing unit in Odisha. This strategic move aims to cater to the escalating demand for its products in the eastern region of India, reflecting the company's commitment to regional growth and market expansion.
Exploring Expansion Opportunities in Eastern India
In a recent conversation with TOI, Keshav Bhajanka, the executive director of Century Plyboards, revealed that the company is contemplating various opportunities to enhance its capacity in the eastern region. "We are contemplating various opportunities for expanding our capacity in this region. Setting up a new unit in Odisha is definitely an option," Bhajanka stated. However, he clarified that the company has not yet formulated a definitive plan, indicating that discussions are still in the preliminary stages.
Meeting with Odisha Chief Minister
Bhajanka recently met with Odisha Chief Minister Mohan Charan Majhi during the latter's visit to Kolkata earlier this month, which was part of an initiative to attract investors to the state. When asked about the details of their discussion, Bhajanka explained, "We met the chief minister with a thought process that Odisha can be a potential market for our future expansion. The CM also briefed us about all the developments taking place in Odisha and the progress made by the state in the fields of infrastructure and ease of doing business." This meeting underscores the growing interest in Odisha as a favorable destination for industrial investments.
Eastern India as a Key Market
Eastern India represents one of the largest markets for Century Plyboards, and the company has made significant investments in this region over the past few years. Currently, Century Plyboards operates a total of eight manufacturing units across the country, with two strategically located in the east: one in Joka, Kolkata, and another in Guwahati. "We have done brownfield expansion in our Guwahati unit and have also been constantly adding capacity to the Kolkata unit across all product ranges to cater to rising demand for our products," Bhajanka noted.
Addressing Capacity Constraints
Despite these expansions, the company faces challenges in meeting future demand. Bhajanka observed, "However, with a robust growth of around 20% in our business in this part of the country, the current capacity of the two plants won't be enough to meet the demand going forward, and we have to add new capacity." This highlights the necessity for additional manufacturing capabilities to sustain the company's growth trajectory in eastern India.
The potential establishment of a new unit in Odisha aligns with Century Plyboards' strategy to bolster its presence in the region, leveraging the state's improving infrastructure and business-friendly environment. As the company continues to evaluate its options, this development could significantly impact the plywood and interior materials industry in eastern India.
