BigBloc Construction (BCL) has entered into a joint venture (JV) agreement with SCG International India, a wholly-owned subsidiary of Siam Cement Public Company (SCG) under cement building materials business, to engage in production and sale of lightweight concrete panels and blocks, the total capacity of approximately 2.6 million sq mtr (approximately 250,000 cubic meter) in Gujarat.
BCL will hold 52 percent equity stake in the JV, while the remaining 48 percent stake will be held by SCG International. The total value of the project is Rs 891 million.
The plant construction is expected to be complete within one year, followed by commercial runs.
Through this esteemed partnership, the company intends to promote mutual growth and business expansion in construction markets and also enhance commitment to bring new-age building materials to the Indian market.