Greenlam Industries Limited announced setting-up a greenfield project for manufacturing of Plywood and Allied products at Tindivanam, Tamil Nadu by a subsidiary of the Company viz. HG Industries Limited, with an estimated investment of INR 1,250 million. The company informed that the said manufacturing facility having installed capacity of 18.9 million square meter per annum has commenced commercial production with effect from June 09, 2023, which has a potential to generate revenue of INR 4,000 million per annum on full capacity utilization.

The total capex incurred for the project stands at INR 1,300 million approx till commencement of the commercial production.