Bigbloc Construction Limited — Capital/Financing Update 2021

Dec 29, 2021

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FOR IMMEDIATE RELEASE MEDIA RELEASE Date: 28[th] December, 2021

BIGBLOC AND SCG JOINT VENTURE AGREEMENT

A virtual ceremony took place on 27th December, 2021 to announce a joint venture between Siam Cement Group and Bigbloc Construction Limited. This joint venture is to set up a strong relationship between Thailand’s second largest company and also the largest and oldest cement and building material company, SCG and India’s leading concrete brick and block manufacturing company Bigbloc Construction Limited, with a former having 48% stake and latter having 52% of stake in the JV, with a set up for manufacturing and distribution of the patented product AAC Block and panels in Gujarat.

Mr. Narayan Saboo, Chairman, Bigbloc Construction Limited commented on the JV,” It is a great honour for us and we are very excited to sign this JV with Siam cement group and welcome them to a country like India for their first capital investment. Moreover, we ourselves have experience of more than four decades in the state of Gujarat which has made us flourish over the years. We are beginning this journey from the state of Gujarat which is known as the biggest industrial state of the country and look forward to slow and steady growth with SCG in the upcoming year.”

Mohit Saboo, Director and CFO commented on the JV,” This event marks a very important date to a process which began almost 2 years back and after countless discussion over innumerable team-meets we have been able to achieve this collaboration whereby SCG marks its first investment in India. In spite of the ongoing pandemic since the last two years we have been able to achieve this benchmark.

Mr. Abhijit Datta, MD, SCG International, shared his remarks on the JV, “Today marks a very important milestone for all of us at SCG and it is our immense pleasure to be present here for this online event. We were deeply inspired by the government of India’s Make in India policy. This JVA which we have signed together with our partner, Bigbloc Construction Limited, marks an important move by SCG to enter into the Indian building solutions market. This manufacturing plant will have a 250,000 m³ combined manufactured capacity to produce both ALC blocks and panels near Bigbloc’s existing facilities in Ahmedabad. SCG International will arrange the required technical expertise both during the project as well as during the plant operations. We believe that the joint venture will benefit from the strong synergies between the two parties. Bigbloc has already been a reputed and established player in ALC Blocks and SCG will help drive and accelerate the smooth transition to innovative products. Both parties will work closely together to accelerate market adoption and to complete the project within one year’s time so as to prepare for commercial launch within the last quarter of 2022. Going forward SCG will continue to focus on leveraging its knowledge and experience in order to help make a positive impact and create real value within the construction ecosystem in India.

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About BIGBLOC

The group is promoted and owned by the SABOO Family having 4 decades of Business Vintage. Bigbloc Construction Limited is listed on the stock exchanges. The second generation entrepreneurs currently manage the business operations of the group who are professionally qualified and have diversified experience. The Group manufacturing plants are located in the state of Gujarat and has a workforce of 500+ members. Currently the group caters to various developers like L&T, Lodha, PSP, Adani, Mahindra Lifespace, Runwal, etc.

About SCG

SCG a leading business conglomerate in the ASEAN region, was established in 1913 following a royal decree of His Majesty King Rama VI to produce cement, the main building material for infrastructure projects greatly contributed to the progress of the country during that period. Since its foundation, SCG has grown continually and diversified into three core businesses, namely Cement-Building Materials Business, Chemicals Business and Packaging Business. SCG was listed on the Stock Exchange of Thailand in 1975, white its Packaging Business was spun off and listed in the Stock Exchange of Thailand as SCG Packaging (SCGP) in 2020. SCG has committed itself to conducting business in line with good corporate governance and sustainable development principles. The Group’s longstanding tradition of learning, adjustment and development in all areas has enabled SCG to survive the wave of crises and challenges and earn widespread recognition as a role model for other businesses, both locally and internationally.

For further details, contact: Investor Relations

For further details, contact:Investor Relations
Mohit Saboo	NikunjSeth/Karan Thakker
contact@nxtbloc.in	nikunj@s-ancial.com/karan@s-ancial.com
9925177077	9773397958/8169962562