New Delhi, Jun 10 (PTI) Siam Cement BigBloc Construction has commenced commercial production at its Rs 65 crore facility at Kheda in Gujarat, marking the start of its India operations, an exchange filing said on Monday.
Siam Cement BigBloc Construction, a joint venture between Thailand's SCG International Corporation Co Ltd and Gujarat-based BigBloc Construction Ltd, has set up a plant in Kheda district near Ahmedabad to manufacture AAC wall products for the Indian market, the filing added.
The JV has invested Rs 65 crore so far in the Kheda plant, with an annual capacity of up to 2.5 cubic meters per annum. It will also introduce large format AAC wall products of 8-12 feet in India and manufacture AAC blocks.
BigBloc Construction holds a 52 per cent stake in the joint venture company, while 48 per cent is with SCG International. This is SCG Group’s first investment in India.
"Moving forward, SCG and Bigbloc will work together on all building material solutions to strengthen the supply chain in India, leverage each other's capabilities, and provide exceptional solutions to the construction industry," Naresh Saboo, Managing Director, BigBloc Construction Ltd, said.
The project has the potential to expand to 5 lakh cubic metres per year in the second phase, he added.
BigBloc Construction Limited is India's leading AAC block manufacturing company.
Shares of the company were trading higher by over 6 per cent at Rs 236.70 apiece on BSE. PTI ABI ABI BAL BAL
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