Hyderabad-based infrastructure firm Nagarjuna Construction Company Limited (NCCL) expects Paschal Form Work ( India) Private Limited, its new joint venture with Paschal Werk G Maier GmbH, to post a turnover of Rs 100 crore in the first year of its operations.
The project, to be commissioned next month, will produce 50,000 sq metre of formwork in the first year, and would be scaled up to 200,000 sq mt in a span of two years, NCC-Paschal director, V Radhakrishna, told Business Standard.
Formwork is a modular shuttering system made of special plywood and steel, which can be erected with the use of clamps. The shuttering system is required for construction of concrete slabs and columns.
NCCL holds 26 per cent and Paschal the remaining 74 per cent stake in the JV that has been set up at a cost of Rs 40 crore at Bayyavaram village near Visakhapatnam.
“The formwork produced here will help in bringing a systematic approach in the construction industry and will make work at building sites much easier, economical, safe and advanced,” he said. It would also export formwork from the second year of production.
According to Radhakrishna, use of formwork will result in speeding up concrete structure activities by three times when compared with the conventional shuttering systems. The modular shuttering systems produced can be reused up to 250 times.
Formwork, however, would be three times costlier than the conventional systems of shuttering. But, as the surface of the concrete slab or column would be smooth if formwork is used, the builders would be able to avoid plastering and thus save time and cost of labour.
