VISAKHAPATNAM: The groundbreaking ceremony for modular shuttering system factory was performed at Bayyavaram village near Anakapalle on Monday.
The project, to manufacture 1,50,000 square feet of modular shutters for construction of various structures, is being set up Maytas Infra Limited and Nagarjuna Construction Company Limited (NCCL) in partnership with Paschal-Werk G. Maier GmbH, which is one of the world’s leading shuttering (formwork) making firm in Germany.
The management has acquired 20 acres for the unit involving an investment of Rs.100 crores. The initial production will cater to the needs of domestic market. Later the capacity will be expanded to 5,00,000 square feet per annum to focus on export.
Directors of the new company, Barbara R. Vetter, Udo Vetter, M. Volz from Germany and their Indian partners Sudeer Mareddi from Maytas, A.R. Raju, Managing Director of NCCL and Teja Raju, Vice-Chairman, Maytas Infra, took part in the groundbreaking ceremony.
Ms. Barbara R. Vetter, sole owner of Paschal-Werk G.Maier GmbH, told reporters that modular shuttering system production would start by year-end.
She said their project would benefit the construction industry by mitigating labour shortage and speeding up construction by 100 per cent with good quality finish.