Bigbloc Const JV with Siam Cement for Lightweight Concrete Panels & Blocks

Big Bloc Construction Limited (or “BCL”) with plants located in the state of Gujarat has entered into a joint-venture agreement with SCG International India Private Limited (or “SCG INTL INDIA”), a wholly owned subsidiary of Siam Cement Public Company Limited (or "SCG”) under Cement-Building Materials Business, to engage in the production and sale of lightweight concrete panels and blocks 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. BCL will hold a 52% equity stake in the Joint Venture, while the remaining 48% stake will be held by SCG INTL INDIA. The total value of this project is INR 891 million. Plant construction is expected to be complete within one year, followed by commercial runs. Commenting on the partnershipNarayan Saboo, Chairman said, “We are delighted to announce our joint venture with SCG International India Private Limited for the purpose of manufacturing and selling of lightweight concrete panels and blocks into new and existing markets. Through this esteemed partnership, we intend to promote mutual growth and business expansion in construction markets and also enhance our commitment to bring new age building materials to Indian Market. There is great potential in the Indian market for the growth of the construction industry. It has recently gained further impetus from the government to support the economy. We are well equipped to cater to the rising demand and we look forward to achieving greater heights in our business. We are confident of our partnership with SCG and we will prosper and deliver the highest standard of quality and performance to the walling material market.”