Modulex India, a modular building construction company has announced its plans to invest Rs. 100 crore to set up a modular building construction factory in Pune.
The company incubated by Red Ribbon Advisory Services (RRAS) claims that this factory will be the world’s largest and India’s first steel modular factory. The company expects to create approximately 1000 jobs in India by 2017. The company built on a 40 acre land will start production in March 2017.
According to the company, it will bring British Standard compliant technology to India to revolutionize the existing construction market. “The British offsite construction technology allows for tailored modular buildings through rapid construction in almost 1/5th of time taken by the conventional buildings using the same construction materials and at the same cost per square feet as traditional construction”, a statement released by the company said.
The statement also said that Modulex buildings have a low carbon footprint, high energy efficiency and 30% less ongoing heating or cooling expenses. Modulex can construct buildings as high as 32 floors.
“The Indian construction market still has a long way to go in comparison to the global scenario. Modulex aims to take India to the next stage of real estate development by providing a jumpstart to the construction industry and bridging the demand-supply gap created by acute shortage of construction in the country. Modulex surpasses the traditional methods of construction by offering clients with numerous advantages, not limited by cost, time and savings”, said Ajay Palekar, Country Head, Modulex Modular Buildings Pvt Ltd.
Talking about how India is soon going to become the next manufacturing hub in the world, Suchit Punnose, Chairman, Modulex UK said, “We believe India has the potential to become a great manufacturing hub and through Modulex we hope to bring in highly advanced & sophisticated technologies from the developed part of the world and apply it here. Global experience shows that modular construction holds the potential to create thousands of employment and support the demands of a prospering economy like India.”
