Visaka Industries Ltd, a diversified company manufacturing sustainable products for the construction and textile industries, has announced the expansion of its Vnext division with a new plant in Tamil Nadu. It plans to increase its capacity from 1, 70, 000 tonnes to 2, 20, 000 tonnes, by investing Rs. 100 crore in the new plant. The investment will be funded through internal accruals.
The plant will be completed in the next 15 months and cater to the demand for Vnext boards in the southern markets. Currently, Vnext plants are operational at Telangana, Maharashtra, and Haryana. Vnext's range of products are designed to substitute plywood and gypsum plaster boards with eco - friendly, modern and sustainable materials.
The Vnext board is a non - asbestos, autoclaved fibre cement board. It is meant for interior and semi - exposed applications, and is widely used for wall panelling, dry walls, partitions, false ceilings, kitchen cabinets and shelves, external cladding, sidings, façades and other construction works.
Mr. Vamsi Gaddam, Joint MD 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 have built a brand,”he said adding,“The new plant is a strategic step by Visaka Industries to supply to the growing market demands for the Vnext board. Our eco-friendly, futuristic and sustainable products are substitutes to plywood and gypsum boards.”