Ahmedabad, Mar 2 (UNI) Phenix Varco Pruden (PVP), a joint venture between Manibhai and Brothers Group Varco and Pruden Buildings, USA, today inaugurated its state-of-the-art manufacturing facility at Sanand near here with an initial investment of Rs 80 crore.
The manufacturing facility is spread over a total area of 100,000 square meters and will produce complete pre-engineered buildings well suited for factories, warehouses, malls, airport hangars and other infrastructure projects.
PVP managing director Malav Patel, while speaking to reporters here today, said, ''This is the first demonstration of powerful partnership between MB Group and Varco Pruden Buildings, and we are proud to be a part of this. Our vision is to redefine the Indian construction industry.'' ''Our strength also lies in detailed designing, totally integrated manufacturing and logistics, accurate project pricing, total framing flexibility and architectural freedom to work out various solutions for building aesthetics and functional requirements, thus providing desired versatility,'' Mr Patel added.
Mr Patel said the facility has been set up in accordance to the MoU signed with the Gujarat Government during last year's ''Vibrant Gujarat'' summit.
''We have plans to invest to the tune of Rs 200 crore in the next two years and we would be expanding our manufacturing base to the southern and northern states of India,'' Mr Patel said.
Phenix Varco Pruden joint managing director and CEO Dr V R Rajan, speaking on the occasion, said the construction industry has largely contributed largely to India's GDP growth.
''Our facility has already commenced production and has supplied high-end pre-engineered steel buildings to various clients across the country since early January 2008,'' Dr Rajan said.
He said the company has bagged 14 clients till date with a total order value of Rs 100 crore.
The plant has an installed capacity of 60,000 metric tonnes (MT) per annum, and has set a traget of 25,000 MT in the first year of production.
''India is one of our key strategic countries, and this new production facility is an integral part of our planned approach for success in the dynamic and growing Indian market,'' Varco Pruden (International Business) director Skip Hannah said on the occasion.
He informed that through its five manufacturing facilities, Varco Pruden produces close to 250,000 MT of pre-engineered buildings per annum making it one of the largest in the US. It has grossed a turnover of USD 350 million.
UNI MP MAZ SM1723