Pennar Group to set up Rs 105 cr pre-engineered steel project

Hyderabad, Oct 24 (UNI) Pennar Engineered Building Systems Limited (PEBSL), a member of the Hyderabad-based Pennar Group, is setting up a new Rs 105 crore project in Andhra Pradesh for the design, manufacture, supply and erection of pre-engineered steel buildings and building components catering to segments such as industries, war houses, commercial centers, multi-storied buildings, air craft hangars and sports complexes.

Andhra Pradesh Chief Minister Y S Rajasekhara Reddy will unveil the foundation stone for the project tomorrow.

The project was being set up with an equity component of Rs 42 crore. The rest would be financed through debt as convertible debentures of term loans, according to company President P V Rao here today.

The company has acquired 28 acres of land for the plant in Anakapalli and Chandapur villages of Sadashivpet Mandal of Medak district, about 45 km from here.

The production would be rolled out from June 2009 and would be fully operational by December 2009, Mr Rao said.

At full capacity utilisation the company would have annual sales turnover of Rs 500 crore. The project would generate 600 direct and 3,000 indirect emplolyment opportunities, he added.

PEBSL has a strategic association with ''My Home Group'' a leader in infrastructure area with interests in the construction, cement and non-conventional energy sectors.

PEBSL will be entering into the market with a two-tier product model. The higher tier model will have pre-galvanised purlines and standing seam roof sheeting with a 10-year leak proof warranty.

The company would shortly finalise techno-marketing tie-ups with reputed international companies, to tap the latest technology to provide its customers the most optimised design, leak proof roofing systems and higher value proposition, Mr Rao added.

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