Posted October 20, 2018 18:33:30The National Thermal Processing Company (NTTP) has announced that it has signed a Memorandum of Understanding (MoU) with Hindustan Timber Board (HTB) for the development of its largest wood processing plant in India.
The NTTP will be set up at the Sainik Dhar (satellite site) in Madhya Pradesh and will be located at the Gurgaon-Shahdara (satellites site) area.
The HTB will be responsible for the management and supply of the plant.
The MoU is a memorandum of understanding signed between the two parties.
The NTTP is expected to have an output capacity of 30 million tons of timber product per year, and is expected be the world’s largest wood-furniture-processing company by output.
The company will also be one of the world leaders in the manufacture of large wood furniture, wood-products and the wood-building industry.
It has over 30,000 employees in India and plans to expand into the global market.NTTP CEO, Shilpa Shankar told The Hindu that the new facility will help in achieving the company’s goal of achieving 100 million tonnes of wood products in the year 2020.
“This will allow the company to expand the plant to the other four satellites.
I am confident the project will be a success.
We have been working on the project for over four years now and have built the plant up to date,” he said.
“I am sure that we will have a good working relationship with the HTB and that we can continue to grow the business.”NTTP is set to commence the work on the new plant in the first half of 2019.
The company has also set up a new office in GurgaON to facilitate the business, Shankar said.
The main objective of the project is to improve the quality of our products and also to increase the productivity of our staff.
“The project is a win-win situation for both the parties as the plant will produce high quality products, increase our productivity, and allow us to export more products,” Shankar added.
The HTB said in a statement, “The HTBC is in a position to support the construction of the NTTP plant as well as to provide the necessary resources and infrastructure for the project.
We are confident of the success of the work.”