Roman Tarmat to set up plant in Ahmedabad

With a Bus Rapid Transport System in Ahmedabad already in its kitty, Mumbai-based Roman Tarmat Ltd. is looking to set up a ready mix concrete (RMC) plant to cash-in on the increasing number of infrastructure projects.

The plant will be set up by the infrastructure construction company by October this year at a cost of Rs 40 lakh.

Although, initially it would be a captive plant, the company is hopeful of using it later for other commercial purposes. At present, Roman Tarmat has five RMC plants across the country "" Thiruvananthapuram, Trichy, Lonavla, Pune and Mumbai.

Moreover, along with the plant, the company intends to purchase at least six transit mixers worth Rs 23 lakh each as well as a concrete pump worth Rs 20 lakh, said Jerry Varghese, Managing Director of Roman Tarmat Ltd.

"We would be requiring a full-fledged RMC plant for the BRTS project that has been assigned to us by Ahmedabad Municipal Corporation. Therefore, we would be setting up our sixth RMC plant here by October this year. The plant would be of the usual 40 cubic metre per hour capacity," added Varghese.

On the cement prices affecting its RMC plant, Varghese said that all the differences caused in prices of raw materials as well as finished product will be settled by the authorities and will not affect the company.

Roman Tarmat has, meanwhile, entered the capital market on June 12, with its initial public offering of 2.9 million equity shares of Rs 10 each for a price band between Rs 150 and Rs 175 per equity share. The issue, subscribed mere 3 per cent on day one, closed on June 19.