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BigBloc Construction subsidiary commences production at Rs 65 cr Kheda plant

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New Delhi, Apr 2 (PTI) Leading building material maker BigBloc Construction Ltd on Tuesday said its subsidiary SIAM Cement BigBloc Construction Technologies has commenced production at its new Rs 65-crore plant in Kheda district near Ahmedabad in Gujarat.

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Shares of BigBloc Construction jumped up to 6 per cent to hit a high of Rs 237.65 per share on NSE following the announcement. The stock closed 4.71 per cent higher at Rs 230 on NSE.

BigBloc Construction Technologies is a 52:48 joint venture between BigBloc Construction and Thailand’s SCG International India.

The JV has set up a 2.5 lakh cubic meter facility at Rs 65 crore to produce AAC blocks and ALC panels. The company will market its products under the ‘ZMARTBUILD WALL by Nxtbloc’ brand, BigBloc said in a filing.

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BigBloc Construction said the Kherda unit has the potential to generate 50,000-60,000 units of carbon credits per annum.

The Kheda unit can be expanded to 5 lakhs CBM per annum in the second phase. At full capacity, the plant is expected to generate annual revenues of around Rs 100 crore.

The joint venture also aims to share techno-commercial knowledge, promote mutual growth and cooperation in the construction industry and bring new-age building materials to Indian markets, the company filing stated.

BigBloc Construction Limited is India’s leading AAC block manufacturing company. Its clients include Lodha, Adani Realty, IndiaBulls Real Estate, Prestige, Piramal, Oberoi Realty, Shapoorji Pallonji Group, Raheja, PSP Projects, L&T, and Sunteck, and Sethia Infrastructure Pvt Ltd. PTI KKS MR

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