At its recent meeting the Board of Everest Industries approved a capex of Rs 187 crore to establish a new Boards and Panels plant through a wholly owned subsidiary or by the Company at KIADB Industrial Area in Chamarajanagar District, Karnataka (rather than Immavu Industrial Area in Mysuru District, Karnataka).
The capex would increase the existing capacity of 210,000 MTPA for Boards and Panels to 301,000 MTPA.
The capex is expected to be operational by June 30, 2024.
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