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Building material company USG Boral to invest Rs 3 bn in Sri City

The company holds groundbreaking ceremony, marking the start of construction of its plasterboard plant

T E Narasimhan  |  Chennai 

Building material company USG Boral to invest Rs 3 bn in Sri City

India Ltd, a plasterboard, metal, joint compound, putty and mineral fibre ceiling products company, plans to invest Rs 3 billion at Sri City. The company held a groundbreaking ceremony on Thursday, marking the start of construction of its plasterboard manufacturing plant in Sri City.

The plant will be built on a plot of 24 acres at an initial investment of Rs 3 billion, will allow for 30 million square metre of plasterboard capacity in a standalone facility. The plant is expected to be ready with in 18 months and would create job opportunities to about 100 persons.

Through this plant the company will meet the domestic market demand and as well as the demand from South Asia region including Bangladesh and

Frederic De Rougemont, Group CEO, USG Boral, said that the company's customers in India will benefit from the technology available to USG Boral, which will be used in the products built at the facility in Sri City.

“This facility offers us the ability to significantly increase our operations in India and provide our customers in the region with the best plasterboard products,” he added.

Ravindra Sannareddy, Founder Managing Director, Sri City, said that the need of the hour is to go for sustainable, durable and quick construction, addressing the global housing demand.

Stating that they have chosen Sri City for setting up the plant because of its strategic location, connectivity and world-class infrastructure, Sumit Bidani, CEO, USG Boral (India) said, “This facility will be in line with our overall strategy to grow our business in India and establish USG Boral as the leading player in the building products technology and solutions space in the country.

First Published: Thu, July 05 2018. 16:33 IST