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Visaka Industries Ltd has announced the expansion of its Vnext division with a new plant for "Vnext boards" in Tamil Nadu.
It plans to increase its capacity from 1,70,000 metric ton (MT) to 2,20,000 MT by investing ₹100 crore using internal accruals for the new plant.
The plant will be completed in 15 months. It will cater to the market demands of Vnext boards in the south.
Currently, Vnext plants are operational in Telangana, Maharashtra, and Haryana.
The Vnext’s products are designed to substitute plywood and gypsum plaster boards with eco-friendlyand sustainable materials. It has customer base across India, Middle East and Africa.
Vnext board is a non-asbestos, autoclaved fibre cement board for interior and semi-exposed applications. It is widely used for wall panelling, dry walls, partitions, false ceilings, and many more.
Vamsi Gaddam, Joint Managing Director of Visaka Industries, said, "We have been in the fibre cement board market for over 10 years and have created a strong base in terms of network and a brand. The new plant is a strategic step by Visaka Industries to supply to the growing market demands of Vnext board."
The company recently showcased its range of Vnext products at the United Nations Habitat 2019 and presented how it is transforming traditional building construction processes with eco-friendly products.
With 12 manufacturing units and a pan-India distribution channel of over 7000 dealer outlets, Visaka Industries Limited has emerged as a renewable business enterprise with a focus on innovative products to build a sustainable future.
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