Vijaywada : Centuryply (I) Ltd further strengthened its bond with the state of Andhra Pradesh after having established its integrated plant in Badvel, Kadapa district of Andhra Pradesh at an initial investment of 1000 cr. While hosting Shri Nara Lokesh Garu, Hon’ble Minister of Information and Technology, Electronics & Communication and Human Resource Development, Govt of Andhra Pradesh in Kolkata at an event by the Indian Chamber of Commerce, Andhra Pradesh emerged as a lucrative state for investors. Speed, stability and service were the three highlights of the state, as mentioned by the Hon’ble Minister.
Speaking on this occasion and welcoming investors from Bengal to Andhra Pradesh, the Hon’ble Minister said, “India is at the inflection point. West is looking at India; East is looking at India. The demographic dividend is here to be reaped. Andhra Pradesh as a state is leading on execution. As the leadership just shared, 100 rupees that’s getting invested in India, out of those 25 rupees is actually coming to the great state of Andhra Pradesh. A lot of people ask me, what makes Andhra Pradesh different? Why Andhra Pradesh? I’ll give you three yeses. The first one is speed. The second is stability. The third S is service. Once you shake hands, it’s no longer your project, it becomes our project. We are here to help, we’re here to solve problems, and we’re here to deliver on the promise. Andhra Pradesh today is a $220 billion economy, will be a $2.4 trillion economy, and we would love to have you as a partner of our growth trajectory and story.”
Shri Keshav Bhajanka, Vice President, ICC and Executive Director, Century Plyboards (I) Ltd., said, “The vision, foresight, and strategic thinking of Shri Nara Lokesh Garu are truly exceptional and unmatched. 2 months back we had met and his possibility of exploring investors from Bengal were discussed. We are extremely fortunate and privileged to have had this opportunity to have him present among us here today. Personally, I am deeply humbled to witness someone of his caliber return from Stanford and dedicate himself to the cause of nation-building. We look forward to a brighter future for our brand in Andhra Pradesh.”
Century Plyboards had also commenced its commercial dispatch of medium density fibreboard (MDF) from Badvel plant in 2024. The brand doubled its MDF capacity from 900 to 1900 cubic meters post the Badvel plant launch. The Badvel unit of Centuryply has provided an employment to about 2200 people. Besides, the company purchases raw material required directly from the farmers in Badvel region. To meet the future needs, the farmers are being encouraged to plant trees that are useful for manufacturing plywood in 80,000 acres in the next 8 years. As part of the initiative, 1,000 farmers had already been roped in to plant trees in 5,000 acres at a subsidised price.
