Kathmandu, Apr. 15
SY Panel Nepal, a subsidiary of SY Company Limited,
has laid the foundation stone for a new UPVC industry in Ratnanagar
Municipality–14, Pithuwa, in Chitwan.
The foundation was jointly laid on Monday by
Ratnanagar Mayor Pralhad Sapkota and the company’s CEO Hong Sung-bu during a
formal ceremony.
Speaking at the event, Mayor Sapkota said the
municipality would facilitate investors willing to establish industries in the
area. "While local authorities would provide necessary support, priority
in employment should be given to local residents," he added.
Once operational, the plant is expected to produce UPVC
door and window profiles and other construction materials using advanced
technology. According to the company, UPVC products are considered a durable, lightweight
and environmentally-friendly alternative to traditional wood and metal
materials, and the decision to establish the factory was based on growing
market demand in the country.
Hong said the factory represents a combination of
Korean technology and Nepal’s workforce, adding that it would serve as a centre
for industrial development. He said that the project would help strengthen
economic cooperation between Korea and Nepal and contribute to the development
of Chitwan.
He also noted that Nepal is entering a phase of
political stability and economic opportunity, and said the company aims to
support job creation and technology transfer in collaboration with the government.
The company recently issued an initial public offering
(IPO), and said the funds raised are being utilised for the establishment of
the uPVC plant. The estimated cost of the project is Rs. 560 million.
The company aims to complete construction within six
months and begin production thereafter. It expects that domestic production of
such materials will reduce dependence on imports.
SY Panel Nepal has been producing panel products in
Ratnanagar since 2017 and plans to expand its industrial presence and network.
Published in The Rising Nepal daily on 16 April 2026.
No comments:
Post a Comment