Bangalore based Ardex Endura (India) Pvt. Ltd. (AEIPL), a Joint Venture company between ARDEX Group, Germany and Prism Cement Limited/Rajan Raheja Group, has signed a MoU with Bengal Aerotropolis Projects Limited (BAPL), to set up its manufacturing unit in West Bengal.
The unit will come up on a 3-acre plot in Sujalaam Skycity, India's first Greenfield Aerotropolis, being developed by BAPL in the Asansol Durgapur Planning Area (ADPA).
AEIPL is a market leader in the (tile-fixing) adhesive, flooring, water proofing and allied products' market and this manufacturing unit marks the group's entry into eastern India.
AEIPL's project in Sujalaam is scheduled to start from the month of June/July 2013.
The entire project will require investment of an estimated Rs 10 crore approximately and will offer employment to around 60 people directly and 150 people indirectly, in the first phase.
The capacity would be doubled over a period of 3-5 years, based on the current trends of growth witnessed in the eastern part of the country.
Commenting on the development, Gopinath Krishnan, Managing Director of Ardex Endura, said, "We have 2 plants (in Bangalore, Karnataka and Baroda, Gujarat) and 29 branches across India."
"We selected Sujalaam Skycity for setting up our first manufacturing unit in Eastern India, as the Industrial and Logistics hub being created here will enable us to not only address the West Bengal market but also the entire Eastern India markets like Bihar, Orissa and the North eastern states."
Speaking on the association, Subrata Paul, CEO, BAPL, said, "This will not only further enhance the industrial climate of the region, but also benefit West Bengal as a whole; while showcasing the potential of this region to other investors."
The Skycity or Aerotropolis is located near the industrial belt of Asansol-Durgapur, which is 180 kms away from Kolkata.
The project will consist of a domestic airport taking up around one third of the area; and an Industrial & IT park, Logistics hub, Residential precinct and health & education institutions covering the rest of it.