Rushil Decor Ltd., a leading interior products manufacturer, on Tuesday announced that it was planning to establish a new laminate sheet manufacturing plant in Gujarat.

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At present, Rushil Decor has five manufacturing facilities in India -- three in Gujarat and one each in Karnataka and Andhra Pradesh.

The new laminate plant in Gujarat will manufacture decorative laminates having an aggregate installed capacity of 1.2 million sheets per annum. Currently, three of its laminate manufacturing plants located in Gujarat have an aggregate capacity of 34.92 lakh sheets per annum.

Rushil Decor said that the new plant, having an approximate outlay of Rs 60 crore, would be helpful to cater to the Indian and foreign markets where there is a huge demand for bigger-size (jumbo-size) laminates.

Rushil Decor markets its products under the flagship brand ‘VIR’. The company is currently engaged in the manufacturing of laminated sheets, MDF (Medium Density Fiber) boards, and PVC foam boards using its five facilities.

The expansion plan is in line with the company’s long-term vision to boost indigenous production capacity and operational efficiency, expanding the range of value-added solutions.

In October last year, Rushil Decor set up a state-of-the-art future boards or Medium Density Fiberboard (MDF) plant in Andhra Pradesh with an investment of over Rs 500 crore. The investment was aimed at enhancing indigenous production capacity and operational efficiency.

At peak capacity, the plant will produce 2.4 lakh cubic metres of MDF and will rank among the largest manufacturing plants in the world. The plant has the potential to generate revenue worth Rs 1,000 crore at peak capacity.

Shares of Rushil Decor ended 0.25 percent higher at Rs 404.55 on Tuesday.

(Edited by : Rukmani Krishna)