BWI: Octamec Group Sets up Manufacturing Facility in Karnataka

Press release from Business Wire India
Source: Octamec Group
Wednesday, July 07, 2010 12:15 PM IST (06:45 AM GMT)
Editors: Business: Advertising, PR & marketing, Business services, Construction, Heavy industries, Real estate
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Octamec Group Sets up Manufacturing Facility in Karnataka


Mumbai, Maharashtra, India, Wednesday, July 07, 2010 -- (Business Wire India) -- Octamec Group a leading player in the steel construction sector announced that its group subsidiary Octamec Building Systems will be investing Rs. 175 crore towards the setting up of a Pre Engineered Metal Building unit in the Dobbaspet region on the outskirts of Bangalore.

The plant for which the land has already been acquired will have an annual capacity of 80,000 MTPA making it one of the largest facilities in the country and its first phase is likely to be commissioned by the first quarter of 2011. When fully commissioned it is expected to have equal distributed capacities dedicated to the manufacture of PEB's and on-line structural steel fabrication with a state of the art engineering and R&D Center.

"The facility will be a major step towards positioning us as a key player in the southern region. Having a factory in Bangalore will help us reduce our transportation costs significantly, these generally account for anywhere between 5-10% of a typical project cost. The move to Bangalore will also be alleviated with notable Hot rolled Steel and flat steel processing mills who are in the fray to setup shop in Karnataka" said Mr Navin Hegde, Chairman and Managing Director Octamec Group.

According to Mr. Pramod Ranka, Chief Financial Officer of the group, the project will be financed by a combination of internal accruals and debt for which the company already has tie-ups in place.

With construction techniques fast evolving addressing aspects of speed, aesthetics and cost, Octamec is steadily poised to take on the infrastructure burst catering to a plethora of projects including power plants, multistory building construction, steel mills, cement plants, airports, ports, convention centers, townships, process plants and logistics.

The Octamec Group is a diversified infrastructure solutions provider having presence in various verticals of the infrastructure segment. The group has recently forayed into the realty and aviation sectors and is venturing into various large scale BOT projects on a Pan-India basis.



CONTACT DETAILS
Edsel Pereira, Octamec Group, +9142489488, edsel.pereira@octamec.com

KEYWORDS
MARKETING, BUSINESS SERVICES, CONSTRUCTION, HEAVY INDUSTRIES, REAL ESTATE

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