Steel Authority of India Ltd. (SAIL) on Wednesday signed a memorandum of understanding (MoU) with Hindustan Prefab Ltd. (HPL) for jointly exploring the techno-economic viability of carrying out the business of prefabricated structures in steel and cement.
The MoU was signed in the presence of SAIL Chairman C. S. Verma and HPL Chairman and Managing Director Jaiveer Srivastava and Directors and senior executives of both companies. The MoU is the first step by SAIL and HPL towards jointly participating in projects using prefabricated structures in steel and cement.
Prefab sector
The prefab sector in India is at present highly unorganised and has huge growth potential. The MoU envisages a study to be conducted into the techno-economics of the prefab sector along with its market potential.
HPL, which has expertise in project management, production and marketing of prefabricated products, is engaged in mass housing, institutional building, infrastructure development and specialised projects with operations spread over 14 States.
Speaking on the occasion, Mr. Verma said: “Stress on creating basic infrastructure through prefab material is of great significance in today's scenario of high cost of raw materials. We must try to find more avenues for use of prefabricated material.''
