The Siam Cement Public Company Limited (SET: SCC) announced that SCG International India PVT. LTD. (SCG INTL INDIA), a wholly owned subsidiary of SCC under Cement-Building Materials Business, has entered into a joint-venture agreement with Big Bloc Construction Limited (BCL) to engage in the production and sale of lightweight concrete blocks and panels with the total capacity of approximately 2.6 million square meter (approximately 250,000 cubic meter) in Gujarat, India where construction is a big and growing industry.
SCG INTL INDIA will hold a 48% equity stake in the Joint Venture, while the remaining 52% stake will be held by BCL. The total value of this project is 891 million Indian Rupee (approximately THB410 million). Plant construction is expected to be complete within one year, followed by commercial start-up.
BCL was incorporated in 2015 and engages in the production and sale of lightweight concrete blocks in Gujarat and the vicinity. The company is listed on the National Stock Exchange of India.
Lightweight concrete blocks and panels help improve the construction efficiency. Lightweight concrete panels, in particular, contribute not only to cost and time reduction in construction process but are also environment-friendly.