Phenix Varco Pruden eyes auto, IT projects in south IndiaMarch 3rd, 2008 - 9:12 pm ICT by admin
Chennai, March 3 (IANS) Pre-engineered steel building firm Phenix Varco Pruden is focusing on upcoming industrial projects in south India for business, a company official said here Monday. “We are looking at industrial, IT software park and warehouse projects for our pre-engineered steel structures,” Malav Patel, managing director of the Ahmedabad-based firm, told reporters.
Promoted by the Rs.1.5 billion turnover Manibhai & Brothers group, Phenix Varco Pruden gets the technical know how from Varco Pruden, US, for a fee.
The American company provides the software and other technical inputs in designing the steel structures.
Speaking about the economics of pre-fabricated steel structures as against the conventional construction techniques, V.R. Rajan, joint managing director & CEO of the company, said there would be cost reduction if one looks at the project in a holistic manner.
“There will be handsome cost savings in material and freight as the steel structures will normally weigh less than the conventional construction methods,” he said.
He said around three million tonnes of steel is used for construction in India per annum. Of that, around 700 tonnes is used by the pre-engineered steel building sector.
“The industry is now logging an annual growth of 30 percent,” Rajan said.
He said that Phenix Varco Pruden has executed projects for Maytas Infrastructure, Asia Motorworks, Essar and Vagvalves.
“Our order book position is Rs.1 billion. It would keep us busy till this September,” said Patel.