Sahyadri Industries to invest Rs140 crore in Vijayawada

Hyderabad: Sahyadri Industries Ltd (SIL), a Pune-based company manufacturing building materials, is setting up a ₹ 140 crore- plant that will make green building products such as cellulose fibre boards and toilet blocks.

The modern, non-asbestos flat sheets (NAFS) producing plant will be located in Vijaywada, according an in-principle agreement between the company and the Andhra Pradesh government. The plant will also produce all-weather corrugated roofing sheets for poultry sheds.

The integrated plant will have an annual capacity of 100,000 tonnes of NAFS.

Products manufactured at the plant will be used for building Andhra Pradesh’s new capital Amaravati, and for the union government’s cleanliness drive, Swachh Bharat Abhiyan, the company said. Andhra Pradesh, under chief minister N. Chandrababu Naidu is building a new capital city near Vijayawada.

“SIL can support the development of infrastructure in Andhra Pradesh considering government’s focus on promoting manufacturing and industrialization in the state and facilitating a conducive investment environment,” said Jayesh Patel, chairman of Sahyadri Industries. “It will be mutually beneficial for the government and for industry,” he said in a phone interview. The location of the NAFS plant in Vijayawada is yet to be finalised.

Sahyadri Industries currently operates five plants—two in Maharashtra and one each in Gujarat, Tamil Nadu and Andhra Pradesh.

The company on Thursday informed the stock exchanges that it had started commercial production at a Vijayawada facility making roofing sheets.

The Vijayawada NAFS unit will procure main raw materials like cement and fly-ash from within the state. “Almost 25,000 tons of fly-ash would be consumed helping the state’s power plants in disposing of the waste in a more useful manner,” Satyen Patel, SIL’s managing director said in a statement.

Sahyadri stock rose 0.33% on Thursday to ₹ 75.35 on BSE while the benchmark Sensex fell 0.44% to 26,599.11 points.