Greenlam Industries Ltd. announced prominent plans for a fast-tracked expansion of the company. The company aims to invest INR 9,500 million over a period of 2-3 years, towards setting up of third Laminate plant and foray into Plywood and Particle Board business. Being a pioneer in the decorative surfacing solutions, the company offers products ranging from decorative laminates, compact laminates, exterior & interior clads, decorative veneers, engineered wooden floors & doors for residential and commercial spaces. Witnessing a spiral demand in the wood panel segment, the company has taken the next leap and decided to expand its portfolio by venturing into two adjacent categories - Plywood and Particle Board and also setting up third Laminate plant. This expansion will position Greenlam from a decorative surfacing company to a leading integrated wood panel player. The investments in third Laminate plant and Particle Board will be done under Greenlam South Limited, a 100% subsidiary of Greenlam Industries Limited based at Naidupeta, in Andhra Pradesh. The company will invest in latest technology, equipment and new generation machinery to manufacture Particle Boards with a capacity of 231000 CBM per annum at an investment of INR 6,000 million. The company shall set up laminate capacity of 3.5 million sheets & boards per annum at an investment of INR 2,250 million. This state-of- the-art integrated facility will be first of its kind in the industry providing matching decors for laminates, compacts, post forming laminate and prelam particle boards, thereby providing holistic surfacing & substrate solution to the customers. The dedicated Plywood manufacturing facility will come under the newly acquired subsidiary HG Industries Limited based at Tindivanam, Tamil Nadu, having a capacity of 18.9 million sqm. per annum with a Capex of INR 1,250 million. Greenlam expects to commence the commercial production of Plywood & Laminate by fourth quarter of FY23 and Particle Board by fourth quarter of fiscal year 2024.