Visaka Industries to Commission 100 Cr Plant for Vnext boards
Visaka Industries Limited, India’s leading manufacturer delivering innovative and sustainable products for construction and textile industries globally, announced the expansion of its Vnext division with a new plant for Vnext board in Tamil Nadu to increase its capacity from1,70,000 MT to 2,20,000 metric ton (MT). The company will be investing INR 100 crores using internal accruals for the new plant.
The plant will be completed in the next 15 months. It will cater to the market demands of Vnext board in the southern markets of the country. Currently, Vnext plants are operational at Telangana, Maharashtra, and Haryana. Vnext’s range of products is designed to substitute plywood and gypsum plaster boards with eco-friendly, modern and sustainable materials. It has a large customer base across India, the Middle East and Africa.
Vnext board is a non-asbestos, autoclaved fibre cement board. It is fire, water and termite resistant, which makes it ideal for long-lasting, sturdy and hazard-free construction. Vnext board is meant for interior and semi-exposed applications. The thickness ranges between 4mm and 25mm. It is widely used for wall panelling, dry walls, partitions, false ceilings, mezzanine flooring, roof underlay, kitchen cabinets and shelves, external cladding, sidings, façades, gates cladding and soffits.
VamsiGaddam, the 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. Vnext’s new plant in Tamil Nadu is a part of our expansion plans of the Vnext division. The new plant is a strategic step by Visaka Industries to supply to the growing market demands of Vnext board. We are confident that this will further strengthen our presence in the fibre cement board business as we continue to hold its largest production capacity. Our eco-friendly, futuristic and sustainable products are substitutes to plywood and gypsum boards.”
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 and durable products such as Vnext board, Vpremium, Vplank, which substitute plywood and ATUM, an integrated solar roofing system for generating electricity. With its eco-friendly range of products, the company has saved 4,00,00 trees and 43 mill PET bottles to date. Visaka has sold 85 million sqft. In the last year and are clocking in 20% CAGR.