Siam Cement BigBloc Construction Technologies completes Land Acquisition for the Joint Venture Plant
BigBloc Construction Limited, one of the leading player in the manufacturing of Aerated Autoclaved Concrete (AAC) Blocks, Bricks and Panels has completed land acquisition for its joint venture with SIAM Cement Group (SCG). Company has acquired land for setting up 3 lakh cbm per annum facility for ALC Panels and AAC Blocks at Kapadvanj, Kheda District near Ahmedabad, Gujarat. The plant is expected to start commercial production in Calendar Year 2023. The Joint Venture between SCG and Big Bloc has selected Gujarat for the first maiden FDI from Siam Cement Group into India.
SCG International Corporation, which is a reputed International supply chain company (with presence in 20 countries) and part of SCG Group a leading business conglomerate in ASEAN with asset more than 27 Billion USD will hold 48% in the joint venture with 52% being held by Bigbloc Construction Limited. Total investment in the project is estimated at Rs. 65 crore. This is the first JV formed by SCG in India.
Commenting on the development, Mr. Naresh Saboo, Managing Director, Bigbloc Construction Ltd. said, “We are happy to announce that company has completed land acquisition and necessary due diligence for the Joint Venture plant at Kapadvanj with SCG International Corporation. The joint venture also aim to share techno-commercial knowledge, promote mutual growth & cooperation in the construction industry and bring new age building materials to Indian markets. In the first phase, it plans to set up 3 lakh CBM per annum plant for AAC Block and ALC Panels. Company is confident to start commercial production from the plant in Calendar year 2023. The project can be expanded to 5 lakhs CBM per annum in the second phase with approval from both joint venture parties. Going further SCG and Bigbloc shall work jointly on all the Building Material Solutions to strengthen supply chain in India, leverage each other capability and provide exceptional solutions to the Construction Industry.”
Incorporated in 2015, BigBloc Construction Ltd is one of the oldest, largest and the only listed company in the AAC Block Space with a capacity of 5.75 lakh cbm. per annum. It is one of the only company in this segment which generates carbon credits. During the year, company laid down plans for installation of Greenfield projects at Wada (Maharashtra) and Ahmedabad (Gujarat). Expansion at Wada with 5 lakh cbm. per annum is going on as scheduled and company expect commercial production very soon.
