India News | Andhra CM Lays Foundation for Wood Panel Manufacturing Unit in YSR District

YSR District (Andhra Pradesh) [India], December 23 (ANI): Andhra Pradesh Chief Minister YS Jagan Mohan Reddy and the state ministers laid the foundation for the wood panel manufacturing unit in Gopavaram in the YSR district on Thursday.

As per a release by the Chief Minister Office (CMO), the new Century Ply's plant has been planned to be its largest globally and will transform the business scenario in the region.

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The Chief Minister said, "The total investment of this Project in Three Phases will be Rs 956 crores with employment potential of 2,226 direct jobs and many more indirect jobs also. In the 1st Phase the Unit will have a manufacturing capacity of 2,31,000 Cubic Meters of Medium Density Fibre Board, in the 2nd Phase 99,000 Cubic Meters of Particle Board, 17,000 Cubic Meters of Block Board and in the 3rd Phase 2,31,000 Cubic Meters of 2nd Medium Density Fibre Board (MDF) Line."

This also marks the beginning of the realization of the Governments vision of one lakh acres of plantation in the Gopavaram district that will transform it entirely to lush flora and fauna land and together with CenturyPly, will uplift and move this district into a new benchmark of sustainable development.

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"I am confident that with this project the backward region of Badvel will emerge as a hub for wood-based industries, ancillary industries related to wood-based industries, and development in transportation and logistics services. All these activities will create employment for local youth and communities thereby improving their living standards," Reddy said.

"Century Ply being the anchor industry, I request Mr Bhajanka to promote this cluster and help attract more investments. I assure you that my Government is committed to providing all necessary support and hand-holding in the implementation of this project," he added. (ANI)

(The above story is verified and authored by ANI staff, ANI is South Asia's leading multimedia news agency with over 100 bureaus in India, South Asia and across the globe. ANI brings the latest news on Politics and Current Affairs in India & around the World, Sports, Health, Fitness, Entertainment, & News. The views appearing in the above post do not reflect the opinions of LatestLY)