Two New Industries Launched by SY Panel in Chitwan

Chitwan. Two new industries with an investment of approximately 60 crore rupees by Korean investment company SY Panel have been inaugurated in Pithuwa, Ratnanagar Municipality-14, eastern Chitwan.

Mayor of Ratnanagar Municipality, Prahalad Sapkota, and the company's Executive Chief, Hong Seong Bu, jointly inaugurated the SY UPVC and SY Cosmetic industries.

The company has expanded its investment due to the municipality's investment-friendly policy and easy administrative environment. The company has already raised capital through IPO, which will be used to bring the new industries into operation, informed Executive Chief Hong.

According to him, the construction work of both industries is targeted to be completed within the next six months, after which production will begin. The UPVC industry will produce 6 types of materials related to windows, doors, and partitions, while the cosmetic industry will produce and supply 18 types of beauty products to the market.

The company aims to provide quality materials at affordable prices in accordance with international standards using state-of-the-art technology. It is also expected to contribute to industrial development by increasing domestic production and promoting exports.

Company Director Anil Sapkota stated that the operation of the industries will significantly increase local employment, skill development, and economic activities.

Mayor Sapkota, the chief guest at the program, stated that the municipality is committed to the security and necessary support for the industries and urged that local and disadvantaged youth be prioritized for employment.

Established in Pithuwa in 2074 BS, SY Panel currently produces building construction materials and exports them to Nepal, India, and Bhutan.