News

New Delhi: A new state-run company launches composite window boards

New Delhi, Dec 12 (ANI): A new composite window-board firm, based in the state of Madhya Pradesh, is set to be set up by the state government.

The company, which has been operating in Madhya the last few years, said it has received funding from the Madhya government.

“We are planning to set up a manufacturing plant in Madras in the near future and manufacture the composite boards for domestic and export markets,” an executive from the company told The Hindu.

The firm said it is in talks with the state about financing for its manufacturing plants in the coming days.

The new company, in a bid to diversify its product offerings, has been set up under the Madras Urban Urban Renewal (MUR) scheme.

It plans to manufacture the boards, which are being manufactured at a new facility in Kolkata, and sell them in domestic markets.

It is expected to start making the boards in 2019.

“The company has been manufacturing composite boards since last few months.

It has a manufacturing facility in Delhi, where it is planning to start manufacturing the boards and sell the boards,” the executive said.

According to the company, it has invested around Rs 6 crore in the project.

The project is aimed at boosting the productivity of the city’s textile industry by about 50 per cent.

“Mumbai has a great textile industry but it is under-utilised, and this is why we want to expand the textile industry.

We will help the textile sector by setting up a factory in Mumbai,” the firm said in a statement.