The Hindu Business Line : Phenix Varco Pruden to invest Rs 200 cr in two new plants

New Delhi, March 4 Ahmedabad-based Phenix Varco Pruden plans to invest Rs 200 crore in setting up two manufacturing plants for pre-engineered buildings over the next five years.

“We have just set up a plant in Ahmedabad with an investment of Rs 80 crore and we plan to have two more plants, one in South India and another in the North, with an investment of around Rs 200 crore,” Phenix Varco Pruden Joint Managing Director and Chief Executive Officer, Mr V.R. Rajan, said at a press conference here on Tuesday.

According to him, the Ahmedabad unit has an installed capacity of 60,000 tonnes and the plan of the company is to take it up to 180,000 tonnes with the new two new plants.

Though, the company has not finalised the location of the new plants, Mr Rajan said that the one in the South could come up in either Hyderabad or Chennai and the unit in North India in Uttaranchal.

“The competition is direct with conventional steel construction companies. The demand for pre-engineered steel buildings is set to grow in the country and currently, the market for pre-engineered steel buildings forms roughly 1 million tonnes per annum (mtpa) of the total 3-mtpa steel construction industry,” he said.

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