Century Ply ready with strategy for Laos crisis

Country's leading interior infrastructure maker Century Plyboards India is ready with an alternate strategy for the Laos crisis that banned export of raw wood and veneer since over a year.

"We have installed a plywood unit in Laos and in the next fiscal (FY18') it will produce and export plywood worth around Rs 120 crore. With this, the subsidiary will turn profitable," Century Ply chairman Sajjan Bhajanka said in an interview.

"We are still lobbying with Laos government to allow export of veneer - at least conditional - from Laos which could add another Rs 100 crore to the subsidiary with higher production levels," he said.

Century Ply Laos Co. Ltd is a step down subsidiary of Century Ply (Singapore) Pte Ltd with 90 per cent holding carrying out all investments in the small Asian country rich in wood stock.