Shree Malani Foams to invest Rs 55 crore in second manufacturing plant

Odisha Chief Minister Naveen Patnaik performed the ground-breaking of a new plant by Shree Malani Foams Pvt Ltd (SMFPL), a part of Shree Malani Group.

SMFPL Managing Director Siddharth Malani, and senior officials of IDCO and IPICOL were present on the occasion.

Spread across on 18.5 acres with a proposed investment of Rs 55 crore, the new plant will have a capacity to manufacture 6,000 tonnes of polyurethane foam. PU foam finds applications in many spheres ranging from upholstered furniture, mattresses, footwear, automobiles, and packaging.

Purshottam Malani, Chairman, Shree Malani Group said, “Odisha provides an apt opportunity for expanding our manufacturing operations and also developing a hub to cater to the eastern part of the country.

We are encouraged by the local ecosystem and are launching our second manufacturing plant in Odisha within three years. We are confident that this new plant will play a major role in our growth strategy as it will augment our reach to tap newer geographies.”

Image Credit : thehindubusinessline.com

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