Construction Industry News
The purchase of real estate for Bigbloc Construction's joint venture with Siam Cement Group, a manufacturer of aerated concrete blocks, bricks and panels (AAC), is now complete (SCG). In Kapadvanj, Kheda district near Ahmedabad, Gujarat, the company has purchased real estate to build a factory for 3 lakh cubic meters of autoclaved lightweight concrete (ALC) panels and AAC blocks annually.
In the year 2023, the plant is expected to start commercial production. Gujarat has been chosen for Siam Cement Group's first foreign direct investment (FDI) in India through the joint venture between SCG and Bigbloc.
SCG International Corporation, a global supply chain company with operations in 20 countries and a member of SCG Group, an ASEAN business conglomerate with assets in excess of $27 billion, would own 48% of the joint venture, with Bigbloc Construction owning the remaining 52% will own. Rs 650 million in total is believed to have been invested in the project. With this, SCG has established its first joint venture in India.
In addition, the joint venture aims to stimulate mutual growth and cooperation in the construction industry, exchange technological and commercial information and supply modern construction materials to Indian markets. It plans to set up a 3 lakh cbm per year plant for AAC blocks and ALC panels in the first phase.
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