BigBloc Building Elements Gets ₹27 Cr Subsidy for AAC Blocks Project
Total admissible subsidy for the Phase I of the project shall be ₹27.14 crores over a period of 10 years w.e.f. 01st May, 2023. The subsidy can be availed from Industrial Promotion subsidy in the form of 100% SGST exemption on sale in Maharastra, Interest Subsidy, Exemption from paying Electricity Duty (for 10 years), Power Tariff Subsidy (3 years).
In April 2023, Bigbloc Building Elements Pvt Ltd completed the first phase of Wada Project in Palghar, Maharashtra by establishing 2.5 lakhs cubic meters per annum capacity of the AAC block. In December 2023, company initiated work on the 2nd phase of the AAC blocks plant at Wada in Palghar, Maharashtra which is expected to be completed in the first quarter of financial year 2024-25.
In Phase 2, company aims to double the production capacity of Wada plant to 5 lakh cubic meter per annum of AAC blocks from existing 2.5 lakh cubic meter per annum. Post completion of phase 2, the total production capacity of at Wada will increase to 5 lakhs cubic meters per annum. At full capacity, Wada plant is expected to generate revenues in excess of ₹160 crore per year.
Incorporated in 2015, BigBloc Construction Ltd is one of the largest and only listed company in the Aerated Autoclaved Concrete (AAC) Block Space with an installed capacity of 8.25 lakhs cubic meter per annum. Company’s manufacturing plants are located in Umargaon (Vapi) and Kapadvanj (Ahmedabad) in Gujarat and Wada (Palghar) in Maharashtra. It is among very few company in AAC industry to generate carbon credits.
Narayan Saboo, the Chairman, Bigbloc Construction Ltd said, “The expansion in Wada, Maharashtra, and the joint venture with SCG Group underscore our dedication to completing projects promptly. Our partnership with SCG Group emphasizes the exchange of technological and commercial expertise, promoting mutual development, and introducing advanced building materials for the Indian market. Through strategic measures, enhanced operational efficiency, and a commitment to innovation, we foresee consistent growth and enhanced value for stakeholders.”
